Gross Domestic Product: Real Estate (531) in Louisiana
LAREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,630.50
Year-over-Year Change
51.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Real Estate (531) in Louisiana' trend measures the size and growth of the real estate sector's contribution to Louisiana's overall economic output. This data is crucial for policymakers and economists to assess the health and trajectory of the state's real estate market.
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 series represents the real estate sector's share of Louisiana's gross domestic product (GDP). It captures the economic value generated by activities such as residential and commercial real estate, property management, and related services. Analyzing this data helps identify trends and drivers in the state's real estate industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP accounting.
Historical Context
Policymakers and industry analysts use this trend to gauge the real estate market's contribution to Louisiana's economic performance and guide relevant policy decisions.
Key Facts
- Louisiana's real estate sector accounted for 12.7% of the state's GDP in 2021.
- The real estate industry has grown steadily in Louisiana, contributing an average of 11.9% to the state's GDP over the past decade.
- The COVID-19 pandemic had a moderate impact on Louisiana's real estate sector, with a 2.8% decline in 2020 followed by a 4.6% rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the size and growth of the real estate sector's contribution to Louisiana's gross domestic product (GDP). It captures the economic value generated by activities such as residential and commercial real estate, property management, and related services.
Q: Why is this trend relevant for users or analysts?
A: Analyzing this trend is crucial for policymakers and economists to assess the health and trajectory of Louisiana's real estate market, which is a significant driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP accounting.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to gauge the real estate market's contribution to Louisiana's economic performance and guide relevant policy decisions, such as those related to housing, construction, and urban development.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months. There may be minor revisions to past data as part of the BEA's ongoing GDP accounting process.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in Louisiana (LAREALNGSP), retrieved from FRED.