Real Gross Domestic Product: Retail Trade (44-45) in Louisiana
LARETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,297.50
Year-over-Year Change
27.72%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Retail Trade (44-45) in Louisiana measures the inflation-adjusted economic output of the retail trade sector in Louisiana. This key indicator provides insight into the health and growth of the state's consumer-driven economy.
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, price-adjusted gross domestic product (GDP) generated by the retail trade industry in Louisiana. Retail trade encompasses the sale of new and used goods to the general public for personal or household consumption. This metric is important for understanding consumer spending patterns and the broader economic conditions within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using various government surveys and economic indicators.
Historical Context
Policymakers and market analysts closely monitor this trend to gauge Louisiana's consumer demand, business investment, and overall economic performance.
Key Facts
- Louisiana's retail trade GDP totaled $57.5 billion in 2021.
- The retail sector accounts for over 10% of Louisiana's total economic output.
- Real retail GDP in Louisiana grew by 3.2% in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the retail trade industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into consumer spending patterns and the overall health of Louisiana's economy, making it an important indicator for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using various government surveys and economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this trend to gauge Louisiana's consumer demand, business investment, and overall economic performance, which informs policy decisions and market strategies.
Q: Are there update delays or limitations?
A: This data is typically released on a quarterly basis with a moderate delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Louisiana (LARETAILRGSP), retrieved from FRED.