Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Louisiana
LAMINRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,808.10
Year-over-Year Change
29.43%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) generated by the mining, quarrying, and oil and gas extraction sector in Louisiana. It provides insight into the economic performance and contribution of this key industry within 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
The Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Louisiana series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is an important indicator for analyzing the health and trends within Louisiana's natural resource extraction sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and industry analysts use this metric to assess the economic conditions and outlook for Louisiana's mining and energy production activities.
Key Facts
- Louisiana is a major energy-producing state.
- The mining sector accounts for a significant portion of the state's economic output.
- Trends in this metric can signal changes in investment, employment, and tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the mining, quarrying, and oil and gas extraction industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and contribution of Louisiana's vital natural resource extraction sector, which is crucial for understanding the state's overall economic conditions and outlook.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the current state and future trajectory of Louisiana's mining and energy production activities, which informs decisions around investment, regulation, and economic development.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of this data due to the time required for collection and processing by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Louisiana (LAMINRQGSP), retrieved from FRED.