Real Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana
LAARTETRTACCFDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,138.60
Year-over-Year Change
-0.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the arts, entertainment, recreation, accommodation, and food services industries in Louisiana. It provides valuable insights into the performance and economic contribution of these key sectors 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
The Real Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana is an important economic indicator that tracks the inflation-adjusted output of these industries. It is used by policymakers, economists, and analysts to assess the state's economic health and the relative importance of these service-oriented sectors.
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 relevant for understanding the impact of economic policies, consumer spending patterns, and industry-specific trends on Louisiana's economy.
Key Facts
- Louisiana's arts, entertainment, recreation, accommodation, and food services industries account for over 10% of the state's total GDP.
- This sector experienced a sharp decline during the COVID-19 pandemic but has since shown signs of recovery.
- The performance of these industries is closely tied to tourism, consumer spending, and overall economic conditions in Louisiana.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana measures the inflation-adjusted output of these key service-oriented industries within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and contribution of Louisiana's arts, entertainment, recreation, accommodation, and food services sectors, which are crucial for understanding the state's overall economic health 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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and analysts to assess the impact of economic policies, consumer spending patterns, and industry-specific trends on Louisiana's service-oriented sectors and the broader state economy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and there may be occasional revisions to previous figures as more complete information becomes available.
Related Trends
All Employees: Manufacturing: Non-Durable Goods: Food Manufacturing in Louisiana
SMU22000003231100001
Personal Consumption Expenditures: Goods: Durable Goods for Louisiana
LAPCEDURG
Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana
LAARTETRTACCFDNGSP
Electric Power Carbon Dioxide Emissions, Residual Fuel for Louisiana
EMISSCO2VRFEIBLAA
All Employees: Leisure and Hospitality in Louisiana
LALEIH
Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Louisiana
LAARTENTRECRGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana (LAARTETRTACCFDRGSP), retrieved from FRED.