Real Gross Domestic Product: State and Local in Louisiana
LAGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,819.90
Year-over-Year Change
-6.95%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) generated by state and local governments in Louisiana. It is a key indicator of the economic activity and fiscal conditions in the state.
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: State and Local in Louisiana metric represents the inflation-adjusted value of goods and services produced by Louisiana's state and local governments. It is used by economists and policymakers to analyze the size and growth of the public sector's economic contributions within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
This trend provides insight into the fiscal health and economic role of Louisiana's state and local governments.
Key Facts
- Louisiana's state and local real GDP was $46.3 billion in 2021.
- This metric has grown by 13% over the past decade.
- The public sector accounts for about 10% of Louisiana's total economic output.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted gross domestic product (GDP) generated by state and local governments in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size, growth, and economic role of the public sector within Louisiana's economy, which is valuable for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze the fiscal health and economic contributions of Louisiana's state and local governments, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Louisiana (LAGOVSLRGSP), retrieved from FRED.