Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Louisiana
LADURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,581.60
Year-over-Year Change
-11.77%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) of the durable goods manufacturing sector in Louisiana. It provides important insights into the state's industrial productivity and economic health.
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 Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Louisiana series tracks the inflation-adjusted output of Louisiana's durable goods manufacturing industries, which include sectors such as wood products, nonmetallic mineral products, and transportation equipment. This metric is a key indicator of the state's manufacturing capabilities and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists use this trend to assess the performance and competitiveness of Louisiana's manufacturing sector and to inform economic development strategies.
Key Facts
- Louisiana's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- This trend has shown steady growth over the past decade, indicating the sector's resilience.
- Durable goods manufacturing is a key driver of high-paying jobs and economic development in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the durable goods manufacturing sector in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and competitiveness of Louisiana's manufacturing capabilities, which is crucial for policymakers and economists analyzing the state's economic health and development.
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: Policymakers and economists use this trend to assess the manufacturing sector's contribution to Louisiana's economy and to inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of several months, so there may be a delay in accessing the most recent information.
Related Trends
Real Personal Income: Metropolitan Portion for Louisiana
LAMPRPI
Real Gross Domestic Product: Federal Civilian in Louisiana
LAGOVFEDCIVRGSP
Real Gross Domestic Product: Ambulatory Health Care Services (621) in Louisiana
LAAMBHCRGSP
Gross Domestic Product: Air Transportation (481) in Louisiana
LAAIRTRANNGSP
Housing Inventory: Price Increased Count Year-Over-Year in Louisiana
PRIINCCOUYYLA
Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana
LAFOODBEVTOBMANRGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Louisiana (LADURMANRGSP), retrieved from FRED.