Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Louisiana
LAFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.79
Year-over-Year Change
-7.42%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Louisiana measures the real output of the furniture manufacturing industry in the state. This is an important indicator for understanding the health and trends of Louisiana's 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
This index tracks the quantity of real, inflation-adjusted goods and services produced by the furniture manufacturing industry in Louisiana. It is used by economists and policymakers to analyze productivity, competitiveness, and structural changes in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
This index provides insight into the furniture industry's contribution to Louisiana's overall economic performance and informs policy decisions related to manufacturing, trade, and economic development.
Key Facts
- The furniture manufacturing industry accounts for over 5% of Louisiana's total manufacturing GDP.
- Louisiana is one of the top furniture producing states in the U.S.
- The index has seen steady growth over the past decade, indicating a robust furniture sector.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the furniture manufacturing industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the productivity and competitiveness of Louisiana's furniture manufacturing sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and price information.
Q: How is this trend used in economic policy?
A: This index informs policymakers and analysts about the performance of Louisiana's manufacturing industry, which can influence decisions related to economic development, trade, and industrial policy.
Q: Are there update delays or limitations?
A: The data is published quarterly 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, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Louisiana (LAFURNMANQGSP), retrieved from FRED.