Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Louisiana
LAFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
624.50
Year-over-Year Change
20.49%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Louisiana measures the economic output of this important sector in the state. This trend is a key indicator of the health and productivity of Louisiana's natural resource-based industries.
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 economic indicator tracks the total value of goods and services produced by Louisiana's forestry, fishing, and related activities. It provides insight into the contribution of these natural resource-based industries to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using various economic surveys and administrative records.
Historical Context
Policymakers and analysts use this trend to assess the state of Louisiana's natural resource-based economy and its role in the broader economic landscape.
Key Facts
- Louisiana is a leading producer of seafood and timber in the United States.
- The forestry and fishing sectors account for over 3% of Louisiana's total GDP.
- This trend has shown steady growth over the past decade, reflecting the resilience of these industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output, or GDP, of the forestry, fishing, and related activities sector 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 contribution of Louisiana's natural resource-based industries, which are crucial to the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using various economic surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the state of Louisiana's natural resource-based economy and its role in the broader economic landscape, informing policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical delay of 2-3 months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Louisiana (LAFRSTFISHNGSP), retrieved from FRED.