Real Gross Domestic Product: Support Activities for Mining (213) in Louisiana
LASAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,421.90
Year-over-Year Change
-15.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of support activities for mining in the state of Louisiana. It is an important indicator for understanding the state's energy and natural resource sectors.
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: Support Activities for Mining (213) in Louisiana series tracks the inflation-adjusted output of businesses that provide support services for the state's oil, gas, and mining operations. This metric offers insights into the health and productivity of a key industry within Louisiana's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and industry analysts use this trend to assess the vitality of Louisiana's energy and extractive sectors.
Key Facts
- Louisiana is a major oil and gas producing state.
- Support activities for mining account for a significant portion of the state's economy.
- This trend has shown volatility in recent years due to changes in global energy markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of businesses that provide support services for mining, oil, and gas operations in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric offers valuable insights into the health and productivity of a key industry within Louisiana's economy, which is heavily dependent on energy and natural resource extraction.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the vitality of Louisiana's energy and extractive sectors, which have significant implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and may have some lag time in reporting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Louisiana (LASAMINRGSP), retrieved from FRED.