Gross Domestic Product: Farms (111-112) in Louisiana
LAFARMNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,451.20
Year-over-Year Change
9.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Farms (111-112) in Louisiana tracks the economic output of the agriculture sector in the state. This metric is crucial for understanding Louisiana's overall economic performance and the health of its farming industry.
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 measures the total value of goods and services produced by the farming industry in Louisiana, including crop and animal production. It provides insight into the state's agricultural productivity and serves as an important indicator for policymakers and industry analysts.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Trends in this metric help inform decisions around agricultural policy, trade, and investments in Louisiana's rural economies.
Key Facts
- Louisiana is one of the top agricultural producers in the U.S.
- The farming industry accounts for over 5% of the state's GDP.
- Crop production makes up the largest share of Louisiana's agricultural output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of the farming industry in Louisiana, including crop and animal production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and productivity of Louisiana's agricultural sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in this metric help inform decisions around agricultural policy, trade, and investments in Louisiana's rural economies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a delay of several months after the end of each quarter.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Farms (111-112) in Louisiana (LAFARMNGSP), retrieved from FRED.