Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Louisiana
LAMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.90
Year-over-Year Change
-84.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Louisiana. It provides insights into the production and economic output of this key manufacturing 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
The Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Louisiana metric tracks the inflation-adjusted total value of goods and services produced by this industry in the state. It serves as an important indicator of the health and competitiveness of Louisiana's automobile and transportation equipment manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic researchers to assess the performance and outlook of Louisiana's manufacturing base.
Key Facts
- Louisiana is a major hub for automotive and transportation equipment manufacturing.
- This industry accounts for a significant portion of the state's overall economic output.
- The trend has shown volatility in recent years due to supply chain disruptions and economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product of the motor vehicles, bodies and trailers, and parts manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and performance of a critical manufacturing sector in Louisiana, which has broader implications for the state's overall economic conditions and competitiveness.
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 accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economic researchers closely monitor this trend to assess the strength and outlook of Louisiana's manufacturing base, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data availability due to the time required for collection and reporting by statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Louisiana (LAMVEHMANRGSP), retrieved from FRED.