Gross Domestic Product: Accommodation and Food Services (72) in Louisiana
LAACCFDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,933.60
Year-over-Year Change
63.82%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the gross domestic product (GDP) of the accommodation and food services sector in Louisiana. It provides insight into the economic performance of this important industry within the state.
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 accommodation and food services sector encompasses businesses providing lodging and preparing meals, snacks, and beverages for immediate consumption. This GDP series offers a valuable indicator of the overall health and activity levels of this sector in Louisiana's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric is used by policymakers, economists, and businesses to monitor trends and make informed decisions about the Louisiana economy.
Key Facts
- Louisiana's accommodation and food services GDP was $7.7 billion in 2021.
- This sector accounts for over 4% of Louisiana's total gross domestic product.
- The accommodation and food services GDP in Louisiana has grown by 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) of the accommodation and food services sector in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and economic contribution of the accommodation and food services industry in Louisiana, which is a key part of 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 based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This GDP series is used by policymakers, economists, and businesses to monitor trends and make informed decisions about the Louisiana economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may have a delay of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Louisiana (LAACCFDNGSP), retrieved from FRED.