Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Louisiana
LAAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.20
Year-over-Year Change
44.75%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Louisiana. It provides insights into the performance and economic contribution of this key manufacturing sector 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 GDP of the apparel, leather, and allied product manufacturing industry in Louisiana represents the total value of goods and services produced by this sector. It is an important indicator of the industry's productivity, growth, and overall economic impact within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP statistics.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Louisiana's manufacturing sector.
Key Facts
- Louisiana's apparel, leather, and allied product manufacturing sector accounts for over $1 billion in GDP.
- This industry employs over 10,000 workers in Louisiana.
- The state's manufacturing GDP has grown by 3% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of a key manufacturing sector within Louisiana, which is crucial for evaluating the state's industrial competitiveness and economic growth.
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 comprehensive GDP statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this trend to assess the health and competitiveness of Louisiana's manufacturing sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Louisiana (LAAPPLEATHMANNGSP), retrieved from FRED.