Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Louisiana
LATRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
307.30
Year-over-Year Change
-6.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in Louisiana. It is an important indicator for understanding the state's economic activity and transportation sector performance.
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: Transit and Ground Passenger Transportation (485) in Louisiana series represents the inflation-adjusted value added by this industry to the state's overall economic output. It is a key metric for analyzing the health and growth of Louisiana's transportation infrastructure and services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is widely used by policymakers, economists, and transportation analysts to inform infrastructure investments, economic development strategies, and public transit policies in Louisiana.
Key Facts
- Louisiana's transit and ground passenger transportation industry accounted for over $2 billion in real GDP in 2021.
- This industry represented approximately 1.2% of Louisiana's total real GDP in 2021.
- Real GDP in this sector grew by 3.5% in Louisiana between 2020 and 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and performance of Louisiana's transportation infrastructure and services, which is important for economic development, infrastructure investment, and public transit policy 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 national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and transportation analysts in Louisiana to inform infrastructure investments, economic development strategies, and public transit policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Louisiana (LATRANGRNDTRANRGSP), retrieved from FRED.