Gross Domestic Product: Warehousing and Storage (493) in Ohio
OHWARESTORNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,408.20
Year-over-Year Change
123.19%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for the Warehousing and Storage (493) industry in Ohio measures the total economic output of this sector within the state. It serves as a key indicator of the industry's contribution to Ohio's overall economic performance.
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 Warehousing and Storage (493) GDP for Ohio represents the total value-added by businesses in this industry, including revenue from storage, transportation, and logistics services. This metric is used by economists and policymakers to analyze the strength and trends of Ohio's logistics and distribution-focused economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their state-level GDP by industry statistics.
Historical Context
Trends in Ohio's Warehousing and Storage GDP are closely monitored for insights into the state's trade, supply chain, and broader economic conditions.
Key Facts
- Ohio is a major logistics hub, home to over 3,000 warehousing and storage facilities.
- The Warehousing and Storage industry accounts for nearly 3% of Ohio's total GDP.
- This sector has seen steady growth, with Ohio's Warehousing and Storage GDP rising 25% in the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for the Warehousing and Storage (493) industry in Ohio measures the total economic output of this sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze the strength and trends of Ohio's logistics and distribution-focused economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Trends in Ohio's Warehousing and Storage GDP are closely monitored for insights into the state's trade, supply chain, and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA with a 2-3 month lag.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Warehousing and Storage (493) in Ohio (OHWARESTORNGSP), retrieved from FRED.