Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana
LAARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.16
Year-over-Year Change
-0.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in Louisiana. It provides insights into the performance of these key industries in the state's 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
The chain-type quantity index for real GDP tracks the inflation-adjusted output of the arts, entertainment, recreation, accommodation, and food services sectors in Louisiana. It is used by economists and policymakers to analyze the economic conditions and trends in these industries at the state level.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using state-level GDP information.
Historical Context
This trend is relevant for understanding the health and growth of Louisiana's service-oriented industries, which are important contributors to the state's economic activity.
Key Facts
- The arts, entertainment, recreation, accommodation, and food services sectors account for over 10% of Louisiana's GDP.
- This index has shown steady growth in recent years, indicating expansion in these key service industries.
- The data is published quarterly by the U.S. Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services sectors in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of important service-oriented industries in Louisiana's economy, which are crucial for understanding the state's overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using state-level GDP information.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and growth of Louisiana's service sectors, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, so there may be a short delay in the most recent information being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Louisiana (LAARTETRTACCFDQGSP), retrieved from FRED.