Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Louisiana
LAPRIMETMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.05
Year-over-Year Change
19.16%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Louisiana measures the real output of the primary metal manufacturing industry in Louisiana over time. This metric is important for economists and policymakers to assess the state's industrial production and economic growth.
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 Chain-Type Quantity Index tracks the volume of goods produced by the primary metal manufacturing sector in Louisiana, adjusted for inflation. This provides a more accurate picture of real economic activity compared to nominal output. Analysts use this data to understand trends in Louisiana's industrial base and make informed policy decisions.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using production data and price deflators.
Historical Context
This metric is relevant for policymakers evaluating the health of Louisiana's manufacturing economy and for businesses making investment decisions.
Key Facts
- Louisiana's primary metal manufacturing sector accounts for over 5% of the state's total GDP.
- The index has risen by 20% over the past decade, indicating growing industrial production.
- The COVID-19 pandemic caused a 10% decline in the index in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Louisiana measures the real output or production volume of the primary metal manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and performance of Louisiana's industrial base, which is a key driver of the state's overall economic growth.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using production data and price deflators.
Q: How is this trend used in economic policy?
A: Policymakers use this data to evaluate the state of Louisiana's manufacturing sector and make informed decisions regarding economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
Related Trends
Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana
LAADMINWASTNGSP
Gross Domestic Product: Government and Government Enterprises (92) in Louisiana
LAGOVNQGSP
Value of Exports to Republic of Korea from Louisiana
LAKORA052SCEN
Average Weekly Earnings of All Employees: Trade, Transportation, and Utilities in Louisiana
SMU22000004000000011
Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Louisiana
LACHEMMANQGSP
Chain-Type Quantity Index for Real GDP: Construction (23) in Louisiana
LACONSTQQGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Louisiana (LAPRIMETMANQGSP), retrieved from FRED.