Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Louisiana
LARENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,387.80
Year-over-Year Change
35.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industries in Louisiana. It provides insights into the economic output and performance of these sectors within 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: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Louisiana series tracks the inflation-adjusted economic output of companies engaged in renting, leasing, or licensing the use of a wide range of tangible and intangible assets. This metric is valuable for analyzing the health and growth of these industries within the Louisiana economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This economic trend is useful for policymakers, investors, and analysts seeking to understand the performance and contribution of the rental and leasing services sector in Louisiana.
Key Facts
- The rental and leasing services sector accounts for approximately 2% of Louisiana's overall GDP.
- This industry grew by 3.2% in real terms in 2021, outpacing the state's overall economic growth.
- The rental and leasing services sector employs over 22,000 people in Louisiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industries in Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and contribution of the rental and leasing services sector within the Louisiana economy, which is valuable information for policymakers, investors, and analysts.
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 its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to understand the health and growth of the rental and leasing services industry in Louisiana, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Louisiana (LARENTRGSP), retrieved from FRED.