Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Louisiana
LAFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.00
Year-over-Year Change
-13.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Louisiana measures the real output of the fabricated metal products industry in Louisiana, adjusting for inflation.
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 index tracks the volume of goods and services produced by fabricated metal product manufacturers in Louisiana, an important component of the state's industrial base. Economists and policymakers use this data to assess the health and competitiveness of Louisiana's manufacturing sector.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using inflation-adjusted gross domestic product data.
Historical Context
The fabricated metal products industry provides critical inputs for construction, automotive, and other key Louisiana industries, so this index is monitored for economic policy decisions.
Key Facts
- Louisiana is a major hub for fabricated metal manufacturing.
- The fabricated metal products industry accounts for over 5% of Louisiana's GDP.
- This index has shown steady growth since the 2008 recession.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the fabricated metal products manufacturing industry in Louisiana, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: The fabricated metal products industry is a key component of Louisiana's industrial base, so this index provides insights into the state's economic competitiveness and manufacturing capabilities.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using inflation-adjusted gross domestic product data.
Q: How is this trend used in economic policy?
A: This index is monitored by economists and policymakers to assess the health and competitiveness of Louisiana's manufacturing sector, which provides critical inputs for other key industries in the state.
Q: Are there update delays or limitations?
A: The data for this index is published quarterly by the U.S. Bureau of Economic Analysis, with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Louisiana (LAFABRMETQGSP), retrieved from FRED.