Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana
LAFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,638.30
Year-over-Year Change
29.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend tracks the Gross Domestic Product (GDP) of the food, beverage, and tobacco product manufacturing industry in Louisiana. It provides insight into the performance and economic contribution of 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 LAFOODBEVTOBMANNGSP series measures the GDP generated by establishments engaged in the manufacturing of food, beverage, and tobacco products in Louisiana. This indicator offers valuable data for analyzing the state's economic composition and dynamics within the manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to assess the health and competitiveness of Louisiana's food, beverage, and tobacco manufacturing sector.
Key Facts
- Louisiana's food, beverage, and tobacco manufacturing sector accounts for over $10 billion in GDP.
- This industry employs more than 30,000 workers in Louisiana.
- The state's GDP in this sector has grown by 5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) generated by establishments engaged in the manufacturing of food, beverage, and tobacco products in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and economic contribution of Louisiana's food, beverage, and tobacco manufacturing sector, which is an important component of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to assess the health and competitiveness of Louisiana's food, beverage, and tobacco manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis by the U.S. Bureau of Economic Analysis, with a slight delay in reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana (LAFOODBEVTOBMANNGSP), retrieved from FRED.