Chain-Type Quantity Index for Real GDP: Construction (23) in Louisiana
LACONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.01
Year-over-Year Change
6.27%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Louisiana measures the volume of construction activity and its contribution to the state's overall economic output.
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 way to track changes in the real (inflation-adjusted) value of construction-related goods and services produced in Louisiana over time. It is a useful indicator for economists and policymakers to assess the health and growth of the state's construction sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Historical Context
This trend is commonly used to inform economic and policy decisions related to the construction industry in Louisiana.
Key Facts
- Louisiana's construction sector accounts for over 5% of the state's GDP.
- The index has increased by 12% over the past 5 years, indicating growth in the industry.
- Construction is a key driver of economic activity and employment in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of construction activity and its contribution to Louisiana's real gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a significant driver of economic activity in Louisiana, so this trend provides important insights into the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and growth of Louisiana's construction sector, which informs decisions related to economic development, infrastructure investment, and other policy areas.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Louisiana (LACONSTQGSP), retrieved from FRED.