Gross Domestic Product: Military in Louisiana
LAGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,102.90
Year-over-Year Change
12.86%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Military in Louisiana tracks the economic output related to military activity in the state of Louisiana. This metric is important for understanding the role of the defense sector in 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
This series measures the gross domestic product (GDP) originating from military-related activities in Louisiana. It provides insight into the economic impact of the defense industry within the state and is used by policymakers and analysts to evaluate trends in military spending and its effect on regional economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric helps inform economic and defense policy decisions at the state and national level.
Key Facts
- Military GDP in Louisiana was $15.6 billion in 2020.
- The military sector accounts for over 10% of Louisiana's total GDP.
- Louisiana has one of the highest concentrations of military-related economic activity in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from military-related activities in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic impact of the defense industry within Louisiana, which is crucial for policymakers and analysts evaluating trends in military spending and its effects on regional economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric helps inform economic and defense policy decisions at the state and national level by providing insights into the role of the military sector in Louisiana's economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some reporting delays common to economic statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Louisiana (LAGOVFEDMILNGSP), retrieved from FRED.