Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Louisiana
LACPUSYSDSGNRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,948.80
Year-over-Year Change
229.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the computer systems design and related services industry in Louisiana. It provides insight into the economic output and growth of this technology-focused 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
The Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Louisiana series tracks the inflation-adjusted economic activity of businesses providing computer systems design, programming, and other IT services in the state. This metric is used by economists and policymakers to assess the performance and competitiveness of Louisiana's tech industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the state-level GDP by industry accounts.
Historical Context
This economic trend is relevant for understanding the role of technology and innovation in Louisiana's economy and informing state-level economic development policies.
Key Facts
- This industry represents about 2% of Louisiana's total GDP.
- Real GDP in this sector grew by 6.2% in 2021.
- The computer systems design industry employs over 13,000 workers in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of 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 metric provides insight into the economic performance and growth of Louisiana's technology sector, which is important for understanding the state's overall economic competitiveness and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the state-level GDP by industry accounts.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the role of technology and innovation in Louisiana's economy and inform state-level economic development strategies and initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer Systems Design and Related Services (5415) in Louisiana (LACPUSYSDSGNRGSP), retrieved from FRED.