Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Louisiana
LAFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,454.90
Year-over-Year Change
-13.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Louisiana measures the inflation-adjusted economic output of the fabricated metal manufacturing industry in the state. This metric is a key indicator of Louisiana's industrial activity 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
This series represents the real, or inflation-adjusted, value added by the fabricated metal product manufacturing industry (NAICS 332) to Louisiana's gross domestic product. It is a vital gauge of the state's manufacturing output and competitiveness within this important industrial sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Historical Context
Policymakers and analysts use this metric to assess the performance and competitiveness of Louisiana's manufacturing base.
Key Facts
- Louisiana is a major hub for fabricated metal production in the U.S.
- The fabricated metal industry accounts for over 5% of Louisiana's GDP.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted value added by the fabricated metal product manufacturing industry (NAICS 332) to Louisiana's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This indicator is a key gauge of Louisiana's manufacturing output and competitiveness within this important industrial sector, providing insights for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the performance and competitiveness of Louisiana's manufacturing base, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the statistical agency, and may have a delay of several months between the reference period and publication.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Louisiana (LAFABRMETRGSP), retrieved from FRED.