Gross Domestic Product: Air Transportation (481) in Louisiana
LAAIRTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
765.30
Year-over-Year Change
16.61%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Air Transportation (481) in Louisiana measure the economic output of the air transportation industry within the state. This metric is important for policymakers and economists to assess the health and growth of this critical sector.
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
This series represents the gross domestic product originating in the air transportation industry (NAICS code 481) in the state of Louisiana. It provides a valuable indicator of economic activity and productivity within this important transportation segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimation techniques.
Historical Context
Trends in air transportation GDP are closely monitored by transportation authorities, industry analysts, and policymakers to gauge the performance and outlook for this sector.
Key Facts
- Louisiana's air transportation GDP was $2.3 billion in 2021.
- Air transportation accounts for 1.2% of Louisiana's total GDP.
- The industry employed over 18,000 workers in Louisiana in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product originating in the air transportation industry within the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: Tracking air transportation GDP is important for understanding the productivity and economic contribution of this vital transportation sector in Louisiana.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP estimation methods for industry-level economic activity.
Q: How is this trend used in economic policy?
A: Trends in air transportation GDP are monitored by policymakers, transportation authorities, and industry analysts to assess the health and outlook for this segment of the Louisiana economy.
Q: Are there update delays or limitations?
A: This data is published annually with a lag of several months, so there may be a delay in reflecting the latest economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Air Transportation (481) in Louisiana (LAAIRTRANNGSP), retrieved from FRED.