Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Ohio
OHMINQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.67
Year-over-Year Change
48.13%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Ohio measures the volume of economic output from this industry sector in the state.
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
This index provides a way to track changes in the real (inflation-adjusted) production of goods and services from Ohio's mining, quarrying, and oil and gas extraction industries over time. It is an important indicator for understanding the state's economic performance and energy-related activities.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
Policymakers and analysts use this metric to assess the health and growth of Ohio's energy and extractive industries.
Key Facts
- Ohio is a top energy-producing state in the U.S.
- The mining, quarrying, and oil/gas sector accounts for 2.5% of Ohio's GDP.
- This index uses 2012 as the base year.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) volume of economic output from Ohio's mining, quarrying, and oil and gas extraction industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and growth of Ohio's energy and extractive sectors, which are key contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and growth of Ohio's energy and extractive industries, which inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month release lag.
Related Trends
Spliced Business Formations Within Eight Quarters: Total for All NAICS in Ohio
BFSBF8QTOTALSAOH
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Ohio
OHPCEPCGONPI
Housing Inventory: Median Days on Market in Ohio
MEDDAYONMAROH
Real Personal Income: Metropolitan Portion for Ohio
OHMPRPI
Gross Domestic Product: Wood Product Manufacturing (321) in Ohio
OHWPMANNGSP
Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Ohio
SMU39000003100000007
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Ohio (OHMINQQGSP), retrieved from FRED.