Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana
Annual, Not Seasonally Adjusted
LAAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66.11
Year-over-Year Change
-35.99%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the real gross state product (GSP) of the U.S. agriculture industry. It provides valuable insights into the overall performance and economic contribution of the agricultural 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 Annual, Not Seasonally Adjusted series tracks the real GSP, which is a comprehensive measure of the value of goods and services produced by the agriculture industry within a state. This metric is used by economists and policymakers to analyze trends, identify growth areas, and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This series is widely used to assess the economic health and competitiveness of the U.S. agricultural sector, which is a critical component of the overall economy.
Key Facts
- The agriculture industry accounts for approximately 1% of U.S. GDP.
- The top 5 states by agricultural GSP are California, Iowa, Texas, Nebraska, and Illinois.
- The U.S. agriculture industry employs over 2.6 million people.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the real gross state product (GSP) of the U.S. agriculture industry, providing a comprehensive assessment of the sector's economic performance.
Q: Why is this trend relevant for users or analysts?
A: This trend is highly relevant for economists, policymakers, and industry analysts as it offers insights into the overall health and competitiveness of the U.S. agricultural sector, which is a critical component of the national economy.
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 widely used to assess the economic health and competitiveness of the U.S. agricultural sector, which informs decision-making by policymakers, industry leaders, and economists.
Q: Are there update delays or limitations?
A: The annual nature of this data series may result in slightly delayed updates, but it provides a comprehensive, high-quality assessment of the agriculture industry's economic performance.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAAGRQGSP), retrieved from FRED.