Real Gross Domestic Product: Truck Transportation (484) in Ohio
OHTRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,636.00
Year-over-Year Change
11.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Truck Transportation (484) in Ohio measures the inflation-adjusted economic output of the truck transportation industry in the state. This trend is a key indicator of economic activity and productivity in the logistics and freight sectors.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Gross Domestic Product: Truck Transportation (484) in Ohio represents the real, inflation-adjusted value added by the truck transportation industry to the state's overall economic output. Economists and policymakers closely monitor this metric to gauge the performance and competitiveness of Ohio's logistics and supply chain sectors.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP accounting.
Historical Context
Trends in Ohio's truck transportation GDP provide insight into the state's broader economic conditions and trade dynamics.
Key Facts
- Ohio's truck transportation GDP reached $17.8 billion in 2021.
- Truck transportation accounts for over 3% of Ohio's total economic output.
- The industry employs more than 150,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Truck Transportation (484) in Ohio measures the inflation-adjusted economic output of the state's truck transportation industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of Ohio's logistics and supply chain sectors, which are crucial for the state's broader economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP accounting.
Q: How is this trend used in economic policy?
A: Trends in Ohio's truck transportation GDP offer policymakers and economists important signals about the state's trade dynamics, infrastructure needs, and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the source agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Ohio (OHTRUCKTRANRGSP), retrieved from FRED.