Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana
LAAGRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,150.40
Year-over-Year Change
-35.99%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the agriculture, forestry, fishing, and hunting industries in Louisiana. It provides key insights into the performance and contributions of these vital sectors to the state's overall economic activity.
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: Agriculture, Forestry, Fishing, and Hunting (11) in Louisiana series tracks the inflation-adjusted value added by these industries to the state's GDP. This metric is widely used by economists and policymakers to analyze the health and productivity of Louisiana's natural resource-based industries.
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 state and federal officials to inform economic policies and investment decisions related to Louisiana's agricultural, forestry, and natural resource sectors.
Key Facts
- Louisiana's agriculture, forestry, fishing, and hunting industries account for over 3% of the state's GDP.
- This sector has seen steady growth of around 2% annually over the past decade.
- The Louisiana Gulf Coast is a major hub for commercial fishing and seafood processing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the agriculture, forestry, fishing, and hunting industries in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the performance and contributions of Louisiana's natural resource-based industries, which are crucial to the state's overall economic activity and growth.
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 closely monitored by state and federal officials to inform economic policies and investment decisions related to Louisiana's agricultural, forestry, and natural resource sectors.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of a few months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana (LAAGRRGSP), retrieved from FRED.