Real Gross Domestic Product: Finance and Insurance (52) in Louisiana
LAFININSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,431.30
Year-over-Year Change
4.63%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the finance and insurance sector in Louisiana. It provides insights into the performance and growth of this key industry within the state's economy.
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: Finance and Insurance (52) in Louisiana series tracks the inflation-adjusted value-added output of the finance and insurance industry in Louisiana. This metric is used by economists and policymakers to analyze the state's economic structure, productivity, and sectoral contribution.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting principles.
Historical Context
This trend is relevant for understanding Louisiana's economic development, investment climate, and policy decisions affecting the finance and insurance sector.
Key Facts
- Louisiana's finance and insurance sector accounts for over 6% of the state's total GDP.
- The sector has experienced steady growth, with a 10-year average annual real GDP increase of 2.5%.
- Finance and insurance is the third-largest industry in Louisiana by GDP contribution.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance and insurance sector in Louisiana, providing insights into the performance and growth of this key industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding Louisiana's economic structure, productivity, and sectoral contribution, which is useful for economists, policymakers, and investors analyzing the state's economic development and investment climate.
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 income and product accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the performance and growth of Louisiana's finance and insurance sector, which informs economic development strategies and policy decisions affecting this industry.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Finance and Insurance (52) in Louisiana (LAFININSRQGSP), retrieved from FRED.