Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Louisiana
LAPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,236.00
Year-over-Year Change
-25.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Louisiana. It provides insight into the performance and productivity of this crucial 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: Petroleum and Coal Products Manufacturing (324) in Louisiana metric tracks the inflation-adjusted output of this industry, which includes activities such as refining crude oil and manufacturing various petroleum and coal-based products. This data point is used by economists and policymakers to analyze the health and competitiveness of Louisiana's energy-related manufacturing capabilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding Louisiana's energy industry dynamics and informing economic development policies.
Key Facts
- Louisiana is a major energy-producing state.
- Petroleum and coal products manufacturing is a crucial part of the state's economy.
- This trend provides a gauge of the industry's productivity and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and productivity of a crucial sector within Louisiana's economy, informing economic analysis and policy decisions.
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: This trend is relevant for understanding Louisiana's energy industry dynamics and informing economic development policies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological updates of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Louisiana (LAPETCOALMANRGSP), retrieved from FRED.