Real Gross Domestic Product: Private Industries in Louisiana
LAPIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
227,859.50
Year-over-Year Change
7.36%
Date Range
1/1/1997 - 1/1/2024
Summary
Real Gross Domestic Product (GDP) measures the inflation-adjusted economic output of private industries in Louisiana. This key metric helps assess the state's economic performance and guides policymakers in their decision-making.
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
Real GDP: Private Industries in Louisiana tracks the total output of all private industry sectors within the state, adjusted for inflation. It provides a comprehensive view of Louisiana's economic health and serves as an important indicator for businesses, investors, and government officials.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using input from various economic surveys and government sources.
Historical Context
Trends in Louisiana's private industry GDP are closely monitored by policymakers and analysts to inform economic and fiscal policies.
Key Facts
- Louisiana's private GDP grew by 2.5% in 2021.
- The state's largest private industry sectors are oil/gas, manufacturing, and healthcare.
- Real private GDP in Louisiana has exceeded pre-pandemic levels since 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted Gross Domestic Product (GDP) generated by private industries within the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: Louisiana's private industry GDP is an important indicator of the state's overall economic performance and can help guide policymakers, businesses, and investors in their decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using information from various economic surveys and government sources.
Q: How is this trend used in economic policy?
A: Trends in Louisiana's private industry GDP are closely monitored by policymakers and analysts to inform economic and fiscal policies at the state level.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a lag of several months between the reference period and the release date.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Louisiana (LAPIRGSP), retrieved from FRED.