Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana
LAADMINWASTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,250.30
Year-over-Year Change
9.42%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Louisiana. It is an important indicator of economic activity and productivity in 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 LAADMINWASTNQGSP series represents the GDP contribution of the administrative and support and waste management and remediation services sector in Louisiana. This industry includes activities such as office administration, facilities support, waste collection, and remediation services. Analyzing trends in this data can provide insights into the health and competitiveness of Louisiana's business services industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and economists use this data to understand the economic conditions and competitiveness of Louisiana's business services sector.
Key Facts
- Louisiana's administrative and support services GDP was $12.6 billion in 2021.
- This industry accounted for 3.2% of Louisiana's total GDP in 2021.
- GDP in this sector grew by 2.7% in Louisiana from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: Analyzing trends in this data can provide insights into the health and competitiveness of Louisiana's business services industry, which is an important 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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to understand the economic conditions and competitiveness of Louisiana's business services sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, so there may be a lag in availability compared to more frequently updated economic indicators.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Louisiana (LAADMINWASTNQGSP), retrieved from FRED.