Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana
LAELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.20
Year-over-Year Change
-30.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry in Louisiana. It provides insight into the production and economic activity within this key 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 Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana series tracks the inflation-adjusted total output of this industry in the state. It is a valuable indicator of the sector's contribution to Louisiana's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Louisiana's manufacturing base.
Key Facts
- Louisiana's electrical equipment manufacturing industry accounts for over 4% of the state's total GDP.
- Real GDP in this sector grew by 2.8% in 2021 after declining in 2020 due to the COVID-19 pandemic.
- The industry employs over 12,000 workers in Louisiana, making it a significant contributor to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the production and economic activity within a key manufacturing sector in Louisiana, which is crucial for understanding the state's overall economic performance.
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: This metric is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Louisiana's manufacturing base, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Louisiana (LAELCEQAPMANRGSP), retrieved from FRED.