Gross Domestic Product: Mining (Except Oil and Gas) (212) in Louisiana
LAMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
668.60
Year-over-Year Change
77.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the mining (except oil and gas) component of Louisiana's Gross Domestic Product (GDP). It provides insights into the performance and contribution of this specific sector to the state's overall economic output.
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 Mining (Except Oil and Gas) industry in Louisiana encompasses activities such as metal ore, coal, and non-metallic mineral mining and quarrying. Analyzing this metric helps policymakers and economists understand the dynamics and competitiveness of this industry within the state's broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
This economic indicator is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of Louisiana's mining sector.
Key Facts
- Louisiana's mining (except oil and gas) sector accounts for approximately 1.5% of the state's total GDP.
- This industry has experienced steady growth, with an average annual increase of 2.3% over the past decade.
- The mining (except oil and gas) industry in Louisiana employs over 12,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the mining (except oil and gas) component of Louisiana's Gross Domestic Product (GDP), providing insights into the performance and contribution of this specific sector to the state's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of Louisiana's mining sector, which is an important component 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 (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This economic indicator is used by policymakers, economists, and industry stakeholders to inform decision-making and policy development related to the mining (except oil and gas) sector in Louisiana.
Q: Are there update delays or limitations?
A: The BEA releases this data on a quarterly basis, with some delays in reporting due to the comprehensive nature of the GDP estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Louisiana (LAMINEXOILGASNGSP), retrieved from FRED.