Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Louisiana
LAFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.03
Year-over-Year Change
-9.31%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Louisiana measures the real output of this economic sector in the state. It is a key indicator of the health and productivity of Louisiana's natural resource-based industries.
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 index tracks the real, inflation-adjusted gross domestic product (GDP) originating from forestry, fishing, and related activities in Louisiana. It provides insight into the production and economic contribution of this important sector to the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Economists and policymakers monitor this index to assess the vitality of Louisiana's natural resource industries and their role in the broader state economy.
Key Facts
- The index has a base year of 2012 = 100.
- Louisiana's forestry and fishing sectors account for over 1% of the state's total GDP.
- The index reached a recent peak in 2018 before declining in 2019.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted gross domestic product (GDP) originating from the forestry, fishing, and related activities sector in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the production and economic contribution of Louisiana's natural resource-based industries, which are an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to assess the vitality of Louisiana's natural resource industries and their role in the broader state economy.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the U.S. Bureau of Economic Analysis, with typical release lags of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Louisiana (LAFRSTFISHQGSP), retrieved from FRED.