Gross Domestic Product: Administrative and Support Services (561) in Louisiana
LAADMINSUPNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,184.00
Year-over-Year Change
65.59%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the administrative and support services industry in Louisiana. It provides insights into the productivity and output of this important service 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 administrative and support services industry includes a wide range of activities such as office administration, facilities support, and employment services. This GDP metric helps analysts and policymakers understand the relative size and performance of this industry in Louisiana compared to other economic sectors.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Historical Context
This industry-level GDP data is used to inform economic policy decisions and monitor market trends at the state level.
Key Facts
- Louisiana's administrative and support services GDP was $8.4 billion in 2021.
- This industry accounts for over 5% of Louisiana's total economic output.
- GDP in this sector has grown by 3.2% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the administrative and support services industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides insights into the productivity and performance of a key service sector within Louisiana's economy, which is valuable for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Q: How is this trend used in economic policy?
A: This GDP data for the administrative and support services industry in Louisiana is used by economists and policymakers to monitor market trends and inform economic development strategies at the state level.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of the latest GDP data for this industry in Louisiana.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support Services (561) in Louisiana (LAADMINSUPNGSP), retrieved from FRED.