Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Louisiana
LAFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
529.80
Year-over-Year Change
-9.31%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Louisiana. It is an important indicator for policymakers and analysts to understand the performance and contribution of this key industry within the state's economy.
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: Forestry, Fishing, and Related Activities (113-115) in Louisiana series provides a measure of the inflation-adjusted output for this important industry cluster. It is used to analyze the overall economic health and productivity of Louisiana's natural resource-based sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic indicator is closely watched by state government, industry groups, and economic development agencies to inform policies and investment decisions.
Key Facts
- Louisiana is a major producer of seafood, timber, and other natural resources.
- The forestry and fishing industries account for over $13 billion in annual economic output in Louisiana.
- This GDP metric tracks the real-dollar production of these vital state industries.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) gross domestic product 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 indicator is important for understanding the performance and contribution of Louisiana's natural resource-based industries to the overall state economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: This metric is closely tracked by state government, industry groups, and economic development agencies to inform policies and investment decisions related to Louisiana's natural resource sectors.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the latest data for this economic indicator.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Louisiana (LAFRSTFISHRGSP), retrieved from FRED.