Real Gross Domestic Product: Private Goods-Producing Industries in Louisiana
LAPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,821.30
Year-over-Year Change
-3.22%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Goods-Producing Industries in Louisiana measures the inflation-adjusted economic output of Louisiana's private sector industries that produce tangible goods, such as manufacturing, mining, and construction.
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 economic indicator provides insight into the health and productivity of Louisiana's private goods-producing economy, which is a key driver of the state's overall economic performance. Policymakers and analysts use this data to assess Louisiana's industrial competitiveness and guide economic development strategies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar valuation method to adjust for inflation.
Historical Context
Trends in this indicator can influence market sentiment, business investment, and government policies related to Louisiana's economy.
Key Facts
- Louisiana's private goods-producing industries account for over 20% of the state's GDP.
- This indicator has shown steady growth since the early 2000s, with some volatility during economic downturns.
- Manufacturing is the largest component of Louisiana's private goods-producing sector.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the inflation-adjusted economic output of Louisiana's private sector industries that produce tangible goods, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: Trends in Louisiana's private goods-producing industries provide insight into the state's overall economic performance and competitiveness, which is important for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar valuation method to adjust for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Louisiana's industrial competitiveness and guide economic development strategies, which can influence market sentiment, business investment, and government policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Louisiana (LAPRIGOODPRORGSP), retrieved from FRED.