Real Gross Domestic Product: Primary Metal Manufacturing (331) in Louisiana
LAPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
480.80
Year-over-Year Change
19.16%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Louisiana. It provides insights into the performance and competitiveness of this crucial manufacturing 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: Primary Metal Manufacturing (331) in Louisiana series tracks the inflation-adjusted value added by the primary metal manufacturing industry to the state's overall economic output. This metric is widely used by economists and policymakers to analyze the productivity and competitive position of Louisiana's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and industry analysts rely on this trend to inform economic development strategies and investment decisions.
Key Facts
- Louisiana is a major hub for primary metal manufacturing.
- This industry accounts for a significant portion of the state's economic output.
- The trend has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Louisiana, providing insights into the performance and competitiveness of this crucial manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists and policymakers to analyze the productivity and competitive position of Louisiana's manufacturing base, which is crucial for informing economic development strategies and investment 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 industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts rely on this trend to inform economic development strategies and investment decisions related to the primary metal manufacturing industry in Louisiana.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Louisiana (LAPRIMETMANRGSP), retrieved from FRED.