Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Ohio
OHCPUSYSDSGNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
170.75
Year-over-Year Change
120.24%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Ohio measures the real output of this sector in the state. It is a key indicator for analyzing productivity and economic growth in Ohio's technology industry.
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 tracks the inflation-adjusted quantity of goods and services produced by computer systems design firms in Ohio. It is used by economists and policymakers to assess the performance and competitiveness of the state's tech sector over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This index provides important context for evaluating Ohio's technology industry and policies aimed at supporting innovation and economic development.
Key Facts
- The index uses 2012 as the base year.
- Ohio's tech sector accounts for over 5% of the state's GDP.
- The index has shown steady growth since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of computer systems design and related services firms in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and competitiveness of Ohio's technology industry, which is a key driver of economic growth and productivity in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to evaluate the effectiveness of policies and programs aimed at supporting innovation and development in Ohio's technology sector.
Q: Are there update delays or limitations?
A: The index is updated quarterly with a lag, and may be subject to revisions as more complete data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in Ohio (OHCPUSYSDSGNQGSP), retrieved from FRED.