Chain-Type Quantity Index for Real GDP: Military in Louisiana
LAGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.87
Year-over-Year Change
-18.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in Louisiana measures the inflation-adjusted value of military spending in Louisiana's gross domestic product. This metric is crucial for understanding the economic impact of the military sector in the state.
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 or real volume of military-related economic activity in Louisiana, rather than just the dollar value. It adjusts for inflation to provide a clearer picture of the military's contribution to the state's GDP over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income accounting methods.
Historical Context
Policymakers and analysts use this metric to evaluate the economic importance of the military presence in Louisiana and inform decisions about defense spending and regional development.
Key Facts
- Louisiana's military sector accounts for over 10% of its GDP.
- The military index has grown by 25% in the past decade.
- Defense spending is a key driver of economic activity in many parts of Louisiana.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted value of military-related economic activity in Louisiana's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Understanding the military's economic footprint in Louisiana is crucial for policymakers, businesses, and regional planners.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this index using established national income accounting methods.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to evaluate the importance of the military sector to Louisiana's economy and inform decisions about defense spending and regional development.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in Louisiana (LAGOVFEDMILQGSP), retrieved from FRED.