Gross Domestic Product: All Industry Total in Ohio
OHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
927,740.10
Year-over-Year Change
70.84%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: All Industry Total in Ohio measures the total economic output of all industries in the state. It is a key indicator of Ohio's economic health and 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
This series represents the total value added by all private industries and government in Ohio. It is a comprehensive measure of the state's economic activity and is widely used by policymakers, economists, and businesses to analyze trends and make informed decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is important for understanding Ohio's economic position relative to the national economy and informing state-level policy decisions.
Key Facts
- Ohio's GDP was $686 billion in 2021.
- The state's economy grew by 5.7% in 2021.
- Manufacturing is a major contributor to Ohio's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: All Industry Total in Ohio measures the total economic output of all industries in the state, including private businesses and government.
Q: Why is this trend relevant for users or analysts?
A: This metric is a comprehensive indicator of Ohio's economic performance and is widely used by policymakers, economists, and businesses to analyze trends and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric is important for understanding Ohio's economic position relative to the national economy and informing state-level policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Ohio (OHNGSP), retrieved from FRED.