Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Louisiana
LAARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.20
Year-over-Year Change
15.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Louisiana measures the volume of economic activity in this sector within 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
This index provides a standardized, inflation-adjusted measure of the real output of the arts, entertainment, and recreation industry in Louisiana. It is used by economists and policymakers to track the performance and growth of this key service sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted quantity index.
Historical Context
Monitoring this index helps inform decisions around economic development, tourism, and cultural policy in Louisiana.
Key Facts
- The index uses 2012 as the base year.
- Louisiana's arts and entertainment sector accounts for over 4% of the state's GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic activity in the arts, entertainment, and recreation industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This index provides a standardized metric to track the performance and growth of a key service sector in the Louisiana economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted quantity index methodology.
Q: How is this trend used in economic policy?
A: Monitoring this index helps inform decisions around economic development, tourism, and cultural policy in Louisiana.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 quarters behind the current period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in Louisiana (LAARTENTRECQGSP), retrieved from FRED.