Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio
OHRERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,747.40
Year-over-Year Change
7.15%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Ohio. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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: Real Estate and Rental and Leasing (53) in Ohio metric tracks the inflation-adjusted value added by the real estate, rental, and leasing industry to the state's GDP. It is a key indicator of the health and growth of this important economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and investors to assess the state's economic conditions and make informed decisions.
Key Facts
- Ohio's real estate and rental and leasing sector accounts for over 12% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the strength of the state's property market.
- The COVID-19 pandemic had a significant impact on this industry, leading to a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of the real estate sector to Ohio's overall economic activity, which is crucial for policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to assess the state's economic conditions and make informed decisions regarding the real estate and rental and leasing industry.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Bureau of Economic Analysis, which may result in slight delays in availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio (OHRERENTLEARQGSP), retrieved from FRED.