Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio
OHRERENTLEANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111,771.60
Year-over-Year Change
22.95%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real estate and rental and leasing sector's contribution to Ohio's gross domestic product (GDP). It is a key indicator of the health and activity of this important industry within the state's economy.
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 Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio metric tracks the value-added output of real estate, rental, and leasing services as a component of the state's overall economic production. This data provides insights into the real estate market's performance and its role in Ohio's broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and analysts use this trend to assess the real estate sector's contribution to Ohio's economic growth and development.
Key Facts
- Ohio's real estate and rental and leasing sector accounted for 12.9% of the state's GDP in 2021.
- This industry has seen steady growth, expanding by 3.2% annually on average over the past decade.
- The real estate and rental and leasing sector is the second-largest contributor to Ohio's GDP, after manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real estate and rental and leasing sector's contribution to Ohio's gross domestic product (GDP), providing insights into the performance and importance of this industry within the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and real estate professionals to assess the health and growth of the real estate market in Ohio and its role in the state's broader economic development.
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 regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the real estate sector's contribution to Ohio's economic growth and to inform policy decisions related to the real estate market and broader economic development.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for slight delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio (OHRERENTLEANQGSP), retrieved from FRED.