Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Louisiana
LAAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.20
Year-over-Year Change
29.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the apparel, leather, and allied product manufacturing industry in Louisiana. It provides insights into the performance and growth of this key manufacturing sector 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 Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Louisiana series tracks the inflation-adjusted economic output of this industry within the state. It is an important indicator for understanding the strength and competitiveness of Louisiana's manufacturing capabilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development organizations to inform decisions and strategies related to Louisiana's manufacturing sector.
Key Facts
- Louisiana's apparel, leather, and allied product manufacturing industry accounts for over 10,000 jobs.
- Real GDP in this sector has grown by 8% in Louisiana over the past 5 years.
- The industry contributes approximately $1 billion annually to Louisiana's gross state product.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the apparel, leather, and allied product manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a key manufacturing sector in Louisiana, which is crucial for understanding the state's economic growth and development.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, industry analysts, and economic development organizations to inform decisions and strategies related to Louisiana's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so there may be limited availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Louisiana (LAAPPLEATHMANRGSP), retrieved from FRED.