Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Louisiana
LAPROBUSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.72
Year-over-Year Change
11.06%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Louisiana measures the real economic output of this industry sector in the state. It is an important indicator for analyzing Louisiana's economic performance and 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
This index tracks the volume of production and services provided by the professional, scientific, and technical services industry in Louisiana, adjusted for inflation. It is a key metric used by economists and policymakers to assess the state's economic health and competitiveness in this critical sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and price data.
Historical Context
Trends in this index help inform decisions around economic development, workforce policies, and business investment in Louisiana.
Key Facts
- The index is based on 2012 as the base year.
- Louisiana's professional services sector accounts for over 12% of the state's GDP.
- The index has grown by over 20% since 2010.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the professional, scientific, and technical services industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: Tracking this index helps assess the competitiveness and growth of a critical sector in Louisiana's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects production and price data to calculate this chain-type quantity index.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to inform decisions around economic development, workforce, and business investment strategies in Louisiana.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Louisiana (LAPROBUSQQGSP), retrieved from FRED.