Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana
LAFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.01
Year-over-Year Change
-5.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real, inflation-adjusted output of the food, beverage, and tobacco manufacturing industries in Louisiana. It provides valuable insights into the state's industrial production and economic performance.
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 Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana tracks the volume of goods produced by these key industries, adjusted for price changes. This metric is used by policymakers and analysts to assess the health and competitiveness of Louisiana's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index serves as an important indicator for state-level economic and industrial policy decisions.
Key Facts
- Louisiana is a major producer of food, beverage, and tobacco products.
- Manufacturing accounts for over 10% of Louisiana's gross state product.
- This index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the food, beverage, and tobacco manufacturing industries in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and competitiveness of Louisiana's manufacturing sector, which is a key driver of the state's 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This index serves as an important indicator for state-level economic and industrial policy decisions in Louisiana.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the federal government, with potential lags of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Louisiana (LAFOODBEVTOBMANQGSP), retrieved from FRED.