Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Ohio
OHTEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.88
Year-over-Year Change
-13.05%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Ohio measures the real output of the textile industry in Ohio. This economic indicator is important for assessing the health and trends of a key manufacturing sector in 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
This index tracks the volume of real (inflation-adjusted) gross domestic product (GDP) generated by textile mills and textile product manufacturers in Ohio. It provides insights into the productivity and competitiveness of the state's textile industry, which is an important part of the broader manufacturing economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Policymakers and industry analysts monitor this trend to understand the dynamics of Ohio's textile sector and its contributions to the state's overall economic performance.
Key Facts
- The textile industry accounts for around 5% of Ohio's total manufacturing GDP.
- Ohio is the 4th largest textile producing state in the U.S. by output.
- Textile manufacturing has seen a gradual decline in Ohio over the past two decades.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output of textile mills and textile product manufacturers in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the productivity and competitiveness of Ohio's textile industry, which is an important part of the state's manufacturing economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this trend to understand the dynamics of Ohio's textile sector and its contributions to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay.
Related Trends
State Government Tax Collections, Total Other Taxes in Ohio
OHTLOTHTAX
Personal Consumption Expenditures: Services: Recreation Services for Ohio
OHPCESRECSRV
Other Labor Income in Ohio
OHOOTH
Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Ohio
SMU39000003200000007
All Employees: Other Services: Repair and Maintenance in Ohio
SMU39000008081100001
Bachelor's Degree or Higher for Ohio
GCT1502OH
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Ohio (OHTEXTQGSP), retrieved from FRED.