Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana
LAADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,242.50
Year-over-Year Change
19.65%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Louisiana. It provides insights into the economic performance and productivity of this important sector.
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: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana tracks the inflation-adjusted output of businesses engaged in administrative and support services, as well as waste management and remediation services, within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers and analysts to assess the health and competitiveness of Louisiana's business services industry.
Key Facts
- Louisiana's administrative and waste management sector accounts for over 5% of the state's total GDP.
- This industry has seen steady growth, outpacing the overall state economy in recent years.
- The sector employs more than 120,000 workers in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of an important business services sector in Louisiana, which is closely monitored by policymakers and analysts.
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: This trend is used by policymakers and analysts to assess the health and competitiveness of Louisiana's business services industry, which is an important contributor to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision processes of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana (LAADMINWASTRGSP), retrieved from FRED.