Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Louisiana
LATEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77.41
Year-over-Year Change
12.21%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Louisiana measures the real output of the textile industry in Louisiana. It is a key indicator of the state's economic activity and competitiveness in this important manufacturing sector.
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 real gross domestic product (GDP) of textile mills and textile product mills in Louisiana, adjusting for inflation. It provides insights into the productivity and growth of this industry, which is a significant contributor to the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
Policymakers and analysts use this index to assess the performance and competitiveness of Louisiana's textile industry and its impact on the broader state economy.
Key Facts
- Louisiana is a major textile manufacturing hub in the U.S.
- The textile industry accounts for over 10% of Louisiana's manufacturing GDP.
- This index has shown steady growth in recent years, indicating a strengthening textile sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output of the textile mills and textile product mills industry in Louisiana, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the productivity and competitiveness of Louisiana's textile industry, which is a significant contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the performance and competitiveness of Louisiana's textile industry and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Louisiana (LATEXTQGSP), retrieved from FRED.