Gross Domestic Product: Private Industries in Louisiana
LAPINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
297,066.70
Year-over-Year Change
16.32%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Private Industries in Louisiana measures the economic output of the private sector in the state of Louisiana. This key indicator helps policymakers and analysts understand the overall health and growth of Louisiana'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
This series tracks the total value added by Louisiana's private industries, excluding government. It provides insight into the size and performance of the state's private economic activity, which is crucial for understanding regional economic trends and drivers.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Historical Context
Policymakers and economists use this metric to evaluate Louisiana's economic competitiveness and inform decisions around economic development, taxation, and regulatory policies.
Key Facts
- Louisiana's private sector accounts for over 80% of the state's total GDP.
- Private industries in Louisiana grew by 3.2% in 2021 compared to the national average of 5.7%.
- The oil and gas extraction industry is a major driver of Louisiana's private GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Industries in Louisiana measures the total economic output of the private sector in the state of Louisiana, excluding government activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the performance and competitiveness of Louisiana's private economy, which is vital for understanding regional economic growth and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Louisiana's economic competitiveness and inform decisions around economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions in Louisiana.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Louisiana (LAPINQGSP), retrieved from FRED.