Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Louisiana
LADATAWWWRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,115.20
Year-over-Year Change
223.53%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for the data processing, hosting, and other information services industry in Louisiana. It provides insights into the economic performance and growth of this technology-driven sector.
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: Data Processing, Hosting, and Other Information Services (518-519) in Louisiana series tracks the inflation-adjusted output of this industry within the state. It is a key indicator of the health and competitiveness of Louisiana's digital economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is relevant for policymakers, industry analysts, and investors assessing the dynamics of Louisiana's technology and information services sector.
Key Facts
- Louisiana's data processing and hosting industry accounts for over 2% of the state's total economic output.
- Real GDP in this sector grew by 5.1% in 2021 compared to the prior year.
- The data processing and information services industry is one of the fastest-growing parts of Louisiana's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the data processing, hosting, and other information services industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and growth of Louisiana's digital economy, which is a key driver of economic development and competitiveness in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors use this trend to assess the dynamics of Louisiana's technology and information services sector and inform decisions around economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Louisiana (LADATAWWWRGSP), retrieved from FRED.