Real Gross Domestic Product: Machinery Manufacturing (333) in Louisiana
LAMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,270.40
Year-over-Year Change
-42.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) in the machinery manufacturing industry (NAICS 333) for the state of Louisiana. It provides important insights into the performance and productivity of a key manufacturing sector within 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
The Real Gross Domestic Product: Machinery Manufacturing (333) in Louisiana series tracks the inflation-adjusted value added by the machinery manufacturing industry to Louisiana's overall economic output. This metric is a critical indicator of the industry's competitiveness, technological innovation, and contribution to the state's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the health and competitiveness of Louisiana's manufacturing base and inform economic development strategies.
Key Facts
- Louisiana's machinery manufacturing industry accounts for over 10% of the state's total GDP.
- The sector has experienced steady growth in real output over the past decade.
- Machinery manufacturing is a key driver of Louisiana's export economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) contributed by the machinery manufacturing industry (NAICS 333) in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a critical manufacturing sector within Louisiana's economy, which is crucial for policymakers and industry analysts.
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: Policymakers and industry analysts use this trend to assess the health and competitiveness of Louisiana's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Louisiana (LAMACHMANRGSP), retrieved from FRED.