Real Gross Domestic Product: Manufacturing (31-33) in Ohio
OHMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112,298.70
Year-over-Year Change
1.94%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product (GDP) for the Manufacturing industry in Ohio measures the inflation-adjusted value of goods produced by this sector. It is a key indicator of the state's economic health and industrial output.
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 series tracks the real GDP of Ohio's manufacturing sector, which encompasses a wide range of industries from automotive to chemicals. Economists and policymakers use this data to assess the strength and competitiveness of the state's industrial base.
Methodology
The U.S. Bureau of Economic Analysis calculates this series using inflation-adjusted value-added data collected through surveys of Ohio manufacturers.
Historical Context
Trends in Ohio's manufacturing GDP are closely watched by state officials and business leaders to gauge the impact of economic policies and global market forces.
Key Facts
- Ohio is the 3rd largest manufacturing state in the U.S.
- Manufacturing accounts for over 17% of Ohio's total GDP.
- The state's manufacturing GDP grew by 4.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of Ohio's manufacturing sector, encompassing a range of industries from automotive to chemicals.
Q: Why is this trend relevant for users or analysts?
A: Trends in Ohio's manufacturing GDP are closely monitored by economists, policymakers, and business leaders as a key indicator of the state's industrial competitiveness and economic health.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this series using inflation-adjusted value-added data collected through surveys of Ohio manufacturers.
Q: How is this trend used in economic policy?
A: State officials and business groups use this data to assess the impact of economic policies and global market forces on Ohio's critical manufacturing base.
Q: Are there update delays or limitations?
A: This series is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in data availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Manufacturing (31-33) in Ohio (OHMANRQGSP), retrieved from FRED.