Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Louisiana
LAARTENTRECRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,737.70
Year-over-Year Change
15.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product (GDP) for the Arts, Entertainment, and Recreation industry in Louisiana measures the inflation-adjusted economic output of this sector. It is an important indicator of the health and growth of Louisiana's leisure and hospitality 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
This series tracks the real GDP, which adjusts for price changes, of the Arts, Entertainment, and Recreation industry in Louisiana. It provides insight into the productivity and contribution of this sector to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
Policymakers and industry analysts use this metric to evaluate the economic trends and policy impacts on Louisiana's leisure and tourism-related activities.
Key Facts
- Louisiana's real GDP for Arts, Entertainment, and Recreation was $3.9 billion in 2021.
- This industry accounts for approximately 2.3% of Louisiana's total real GDP.
- The sector experienced a 12.5% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the Arts, Entertainment, and Recreation industry in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic health and growth of Louisiana's leisure and hospitality sector, which is a key 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 using established national accounting standards.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to evaluate the economic trends and policy impacts on Louisiana's leisure and tourism-related activities.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months.
Related Trends
Average Weekly Earnings of All Employees: Professional and Business Services in Louisiana
SMU22000006000000011A
Exports of Goods: Non-Manufactured Commodities for Louisiana
EXPNONLA
Real Gross Domestic Product: Water Transportation (483) in Louisiana
LAWATTRANRGSP
Transportation and Warehousing Earnings in Louisiana
LAETRA
Pandemic Unemployment Assistance Continued Claims in Louisiana
PUACCLA
Number of Identified Exporters to Spain from Louisiana
LAESPA475SCEN
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Louisiana (LAARTENTRECRGSP), retrieved from FRED.