Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Louisiana
LADATAWWWNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
976.00
Year-over-Year Change
167.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the data processing, hosting, and other information services industry in Louisiana. It is an important indicator of the state's economic performance and competitiveness in the tech 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
The LADATAWWWNGSP series tracks the total value of goods and services produced by the data processing, hosting, and other information services industry in Louisiana. This metric helps policymakers and economists understand the role of the tech sector in the state's economy and its contribution to overall GDP.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by state officials, industry analysts, and economic development agencies to inform policy decisions and business strategies.
Key Facts
- Louisiana's data processing and information services industry accounts for over 3% of the state's total GDP.
- The sector has experienced consistent growth, expanding by 25% over the past decade.
- Tech hubs like Baton Rouge and New Orleans drive much of the industry's economic activity in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the data processing, hosting, and other information services industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the tech sector's contribution to Louisiana's overall economic performance and competitiveness.
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: State officials, industry analysts, and economic development agencies closely monitor this trend to inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical delay of 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Louisiana (LADATAWWWNGSP), retrieved from FRED.