Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Louisiana
LAFININSREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.72
Year-over-Year Change
12.66%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP measures the real output of the Finance, Insurance, Real Estate, Rental, and Leasing (FIRE) sector in Louisiana. This is a key indicator of economic activity and productivity in the state's FIRE industry.
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
This index provides a volume measure of real GDP for the FIRE sector in Louisiana, adjusting for price changes over time. It is used by economists and policymakers to analyze trends in the state's economic output and identify drivers of growth or decline in this important industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to real GDP estimation.
Historical Context
This index is valuable for understanding the health and performance of Louisiana's FIRE sector, which is a major contributor to the state's overall economic activity.
Key Facts
- Louisiana's FIRE sector accounts for over 20% of the state's GDP.
- The index has grown by an average of 3% annually over the past decade.
- The FIRE industry is a major employer in Louisiana, with over 200,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the Finance, Insurance, Real Estate, Rental, and Leasing (FIRE) sector in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: The FIRE sector is a critical component of Louisiana's economy, and this index provides valuable insights into the productivity and performance of this industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to real GDP estimation.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to monitor the health of Louisiana's FIRE sector and inform decisions related to economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months between the end of the reference period and the release of the index value.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Louisiana (LAFININSREALQGSP), retrieved from FRED.