Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana
LAAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,391.30
Year-over-Year Change
-33.73%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) for the agriculture, forestry, fishing, and hunting industries in Louisiana. It provides key insights into the productivity and growth of these vital economic sectors 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 LAAGRNGSP series represents the GDP contribution of Louisiana's agriculture, forestry, fishing, and hunting industries. This data is used by economists and policymakers to analyze the relative importance and performance of these sectors, which are crucial for the state's economy and food supply.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this series are closely monitored by state and federal agencies to inform economic and agricultural policies.
Key Facts
- Louisiana's agriculture, forestry, fishing, and hunting industries account for over 2% of the state's GDP.
- The LAAGRNGSP series has shown steady growth over the past decade, reflecting the resilience of these sectors.
- These industries provide critical employment and support Louisiana's rural communities.
FAQs
Q: What does this economic trend measure?
A: The LAAGRNGSP series measures the Gross Domestic Product (GDP) contribution of Louisiana's agriculture, forestry, fishing, and hunting industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and growth of vital economic sectors in Louisiana, which are crucial for the state's economy and food supply.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Trends in this series are closely monitored by state and federal agencies to inform economic and agricultural policies.
Q: Are there update delays or limitations?
A: The LAAGRNGSP series is updated regularly by the U.S. Federal Reserve and has a relatively short publication delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Louisiana (LAAGRNGSP), retrieved from FRED.