Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Louisiana
LAMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,753.20
Year-over-Year Change
-4.31%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in Louisiana. It provides insights into the economic performance of this key sector 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 LAMINNQGSP series represents the real GDP, adjusted for inflation, of the mining, quarrying, and oil and gas extraction industry in Louisiana. This metric is used by economists and policymakers to gauge the health and contribution of this industry to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
This trend is closely monitored by state and federal officials to assess the impact of energy and natural resource policies on Louisiana's economy.
Key Facts
- Louisiana is a major energy-producing state.
- The mining, quarrying, and oil and gas extraction industry accounts for a significant portion of the state's GDP.
- This trend helps track the economic impact of changes in the energy sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance of a key industry in Louisiana, which is important for understanding the state's overall economic activity and the impact of energy and natural resource policies.
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 practices.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal officials to assess the impact of energy and natural resource policies on Louisiana's economy.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological considerations of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Louisiana (LAMINNQGSP), retrieved from FRED.