Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Louisiana
LAMOTPICSNDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
431.40
Year-over-Year Change
-64.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) for the motion picture and sound recording industries in Louisiana. It provides insights into the economic performance and contribution of this important sector 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 GDP for the motion picture and sound recording industries in Louisiana represents the total value of goods and services produced by this industry. It is a key indicator of the economic activity and growth within this sector, which is an important part of Louisiana's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
This GDP trend is closely watched by policymakers, industry analysts, and investors to understand the health and trajectory of Louisiana's media and entertainment sector.
Key Facts
- Louisiana's motion picture and sound recording industries account for over $2 billion in GDP.
- This sector has experienced steady growth in recent years, contributing to Louisiana's economic diversification.
- The state offers various tax incentives to attract film and music production, supporting the industry's expansion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the motion picture and sound recording industries in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of Louisiana's media and entertainment sector, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This GDP trend is closely watched by policymakers, industry analysts, and investors to understand the health and trajectory of Louisiana's media and entertainment sector, which is supported by various tax incentives.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the BEA, and may have some lag in publication compared to more real-time economic indicators.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Louisiana (LAMOTPICSNDNGSP), retrieved from FRED.