Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Ohio
OHFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,621.60
Year-over-Year Change
180.80%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the monetary authorities, credit intermediation, and related services sector in the state of Ohio. It provides insights into the economic activity and performance of a key financial services industry within 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
The OHFRBCINGSP series represents the GDP originating in the monetary authorities, credit intermediation, and related activities sector in Ohio. This data is used by economists and policymakers to assess the health and growth of the financial services industry in the state, which is an important component of the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry estimates.
Historical Context
This trend is relevant for understanding the role of the financial services sector in Ohio's economy and can inform policy decisions related to economic development and regulation.
Key Facts
- Ohio's financial services sector accounts for over 5% of the state's GDP.
- The monetary authorities and credit intermediation industry has seen steady growth in Ohio over the past decade.
- This sector employs over 150,000 people in the state, making it a significant employer.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating in the monetary authorities, credit intermediation, and related activities sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and role of the financial services industry within Ohio's economy, which is an important component for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to economic development, regulation, and support for the financial services industry in Ohio.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, so there may be delays in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Ohio (OHFRBCINGSP), retrieved from FRED.