Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Louisiana
LAMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.06
Year-over-Year Change
-42.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Louisiana measures the inflation-adjusted output of the machinery manufacturing industry in the state. It is a key indicator of economic activity and production trends in this important 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 real, or inflation-adjusted, value of goods produced by machinery manufacturers in Louisiana. It is used by economists and policymakers to analyze the health and competitiveness of the state's industrial base and make informed decisions about economic policies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this index provide insight into the performance of Louisiana's manufacturing sector and its contribution to the overall state economy.
Key Facts
- Louisiana is a major center for machinery manufacturing in the U.S.
- The index has shown steady growth over the past decade.
- Machinery production is a key driver of economic activity in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the machinery manufacturing industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the performance and competitiveness of Louisiana's industrial base, which is crucial for economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to assess the health of Louisiana's manufacturing sector and make informed decisions about economic policies that affect industrial production in the state.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, and there may be a short delay before the latest data is available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Louisiana (LAMACHMANQGSP), retrieved from FRED.