Real Gross Domestic Product: Transportation and Warehousing (48-49) in Ohio
OHTRANSWARERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,269.20
Year-over-Year Change
-4.17%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic indicator measures the real gross domestic product (GDP) of the transportation and warehousing sector in Ohio. It provides insights into the productivity and growth of this crucial 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 Real Gross Domestic Product: Transportation and Warehousing (48-49) in Ohio metric tracks the inflation-adjusted economic output of businesses engaged in transportation of passengers and cargo, as well as related warehousing and storage activities. This data is a key input for policymakers and analysts to assess the health and performance of Ohio's logistics infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is widely used to evaluate the state's transportation and logistics capabilities, which are vital for supporting commerce, trade, and overall economic growth.
Key Facts
- Ohio's transportation and warehousing sector accounts for 5% of the state's total GDP.
- This industry employs over 300,000 workers in Ohio.
- The state's logistics capabilities are crucial for its major manufacturing and agricultural exports.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) gross domestic product of the transportation and warehousing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the productivity and growth of Ohio's logistics infrastructure, which is critical for supporting the state's commerce, trade, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate the state's transportation and logistics capabilities, which are vital for supporting economic growth and development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in Ohio (OHTRANSWARERQGSP), retrieved from FRED.