Real Gross Domestic Product: Construction (23) in Louisiana
Annual, Not Seasonally Adjusted
LACONSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,744.40
Year-over-Year Change
6.27%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the value of construction put in place, reflecting the total dollar value of construction activity in the United States. This metric is a key indicator of economic growth and construction industry health.
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 LACONSTRGSP series represents the total value of all construction work done in the U.S., including both residential and non-residential projects. It is an important economic indicator used by policymakers, analysts, and businesses to gauge the state of the construction sector and broader economic conditions.
Methodology
The data is collected through surveys of construction firms and project owners by the U.S. Census Bureau.
Historical Context
The construction industry is a significant driver of economic growth, and this metric helps inform policy decisions and market analysis.
Key Facts
- Construction spending accounts for over 4% of U.S. GDP.
- The series has been published monthly since 1964.
- Residential construction makes up about 40% of total construction value.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total dollar value of all construction projects completed in the United States, including both residential and non-residential construction.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic growth and construction industry health, providing insights into business investment, consumer demand, and the overall strength of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of construction firms and project owners by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor construction spending data to assess the state of the economy, make informed policy decisions, and guide investment strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 2-month delay, and the series includes both residential and non-residential construction, providing a comprehensive view of the construction sector.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LACONSTRGSP), retrieved from FRED.