Gross Domestic Product: Computer Systems Design and Related Services (5415) in Louisiana
LACPUSYSDSGNNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,597.30
Year-over-Year Change
134.41%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the computer systems design and related services industry in Louisiana. It provides insights into the economic performance and contribution of this sector to the state's economy.
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 GDP for computer systems design and related services represents the total value of goods and services produced by this industry in Louisiana. It is a key indicator of the state's economic activity and competitiveness in the technology and information services sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess Louisiana's economic growth and competitiveness in the technology industry.
Key Facts
- Louisiana's computer systems design GDP was $3.6 billion in 2021.
- This industry accounts for 2.1% of Louisiana's total GDP.
- The sector grew by 8.2% annually from 2016 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the computer systems design and related services industry in the state of Louisiana.
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 technology sector, which is crucial for understanding the state's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess Louisiana's economic growth and competitiveness in the technology industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer Systems Design and Related Services (5415) in Louisiana (LACPUSYSDSGNNGSP), retrieved from FRED.