Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Louisiana
Annual, Not Seasonally Adjusted
LAOTHSERVERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,646.20
Year-over-Year Change
-12.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total output of the other services sector in the U.S. economy. This metric is a key indicator of the overall health and activity levels within the service industry.
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 'Other Services' sector encompasses a diverse range of businesses such as personal care services, religious organizations, and civic and professional associations. Tracking the output of this sector provides insight into consumer demand and economic trends beyond the manufacturing and retail segments.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and analysts use this metric to assess the broader service-based economy and make informed decisions.
Key Facts
- The other services sector accounts for over 4% of U.S. GDP.
- This metric has shown steady growth over the past decade.
- The COVID-19 pandemic significantly impacted other services in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total output or gross value added of the other services sector in the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of the other services sector provides insight into broader consumer demand and economic activity beyond just manufacturing and retail.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of the broader service-based economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAOTHSERVERGSP), retrieved from FRED.