Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana
LAELCEQAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
156.50
Year-over-Year Change
11.47%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of Louisiana. It provides insight into the economic performance and productivity of this key manufacturing 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 Gross Domestic Product for Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana is an important economic indicator that tracks the output and growth of this crucial manufacturing industry within the state. Economists and policymakers use this data to assess the health and competitiveness of Louisiana's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by industry accounts.
Historical Context
This trend is widely used by economists, industry analysts, and state governments to understand the dynamics of Louisiana's manufacturing sector and its contribution to the overall state economy.
Key Facts
- Louisiana's electrical equipment manufacturing sector contributed $2.8 billion to the state's GDP in 2021.
- The industry accounts for 2.3% of Louisiana's total economic output.
- GDP in this sector grew by 4.1% in Louisiana between 2020 and 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of a key manufacturing sector in Louisiana, which is critical for understanding the state's overall economic dynamics 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 as part of their comprehensive GDP by industry accounts.
Q: How is this trend used in economic policy?
A: Economists, industry analysts, and state governments use this data to assess the health and competitiveness of Louisiana's manufacturing base, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana (LAELCEQAPMANNGSP), retrieved from FRED.