Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Louisiana
LANMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
552.90
Year-over-Year Change
-32.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in Louisiana. It provides insight into the performance and economic contribution of this important manufacturing 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 Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Louisiana series tracks the inflation-adjusted output of this industry, which includes the production of a variety of materials such as glass, cement, and ceramics. This metric is used by economists and policymakers to assess the health and competitiveness of Louisiana's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding Louisiana's industrial composition and economic diversification efforts.
Key Facts
- Louisiana is a major producer of cement, glass, and other nonmetallic mineral products.
- The nonmetallic mineral product manufacturing industry accounts for over 5% of Louisiana's total manufacturing GDP.
- This industry has seen steady growth in recent years, supporting broader economic expansion in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic contribution of an important manufacturing sector within Louisiana, which is useful for understanding the state's industrial composition and economic diversification efforts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists seeking to assess the health and competitiveness of Louisiana's manufacturing base and support broader economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Louisiana (LANMMPMANRGSP), retrieved from FRED.