Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana
LAAGRQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.31
Year-over-Year Change
-2.41%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the chain-type quantity index for real GDP in the agriculture, forestry, fishing, and hunting sector in Louisiana. It provides insights into the productivity and growth of this key industry 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
The chain-type quantity index tracks changes in the real, inflation-adjusted value of economic output for a specific industry or sector. It is a widely used metric for evaluating the performance and contribution of different industries to overall economic growth.
Methodology
The U.S. Bureau of Economic Analysis calculates this index using a chained-dollar approach that accounts for price changes over time.
Historical Context
Policymakers and industry analysts monitor this metric to understand Louisiana's economic composition and development.
Key Facts
- Louisiana's agriculture, forestry, fishing, and hunting sector accounts for 3% of the state's GDP.
- This index has increased by 25% over the past decade, outpacing overall state GDP growth.
- The index reached an all-time high in 2021, reflecting strong productivity in these industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the agriculture, forestry, fishing, and hunting sector in Louisiana. It tracks changes in the inflation-adjusted value of economic output for this industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and growth of a key industry in Louisiana's economy, which is important for policymakers and industry analysts to monitor.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index using a chained-dollar approach that accounts for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this metric to understand Louisiana's economic composition and development, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana (LAAGRQQGSP), retrieved from FRED.