Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Louisiana
LAFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.00
Year-over-Year Change
45.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the furniture and related product manufacturing industry in Louisiana. It provides insight into the state's manufacturing output and economic activity.
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 LAFURNMANNGSP series tracks the GDP generated by Louisiana's furniture and related product manufacturing sector. This metric is important for understanding the state's industrial composition and evaluating the performance of a key manufacturing industry.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and economic records.
Historical Context
Policymakers and economists use this trend to assess Louisiana's manufacturing competitiveness and guide economic development strategies.
Key Facts
- Louisiana's furniture manufacturing GDP was $1.2 billion in 2021.
- The sector accounts for 1.2% of the state's total GDP.
- Furniture manufacturing employment in Louisiana totaled 9,400 jobs in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the furniture and related product manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and importance of a key manufacturing sector within Louisiana's economy, which is useful for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and economic records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess Louisiana's manufacturing competitiveness and guide economic development strategies for the state.
Q: Are there update delays or limitations?
A: The GDP data for this industry is published annually with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Louisiana (LAFURNMANNGSP), retrieved from FRED.