Real Gross Domestic Product: Wood Product Manufacturing (321) in Louisiana
LAWPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,304.00
Year-over-Year Change
111.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the wood product manufacturing industry in Louisiana. It provides insights into the performance and growth of this key manufacturing sector within the state's 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
The Real Gross Domestic Product: Wood Product Manufacturing (321) in Louisiana series tracks the inflation-adjusted output of the wood product manufacturing industry in the state. This metric is used by economists and policymakers to analyze industrial productivity, competitiveness, and the overall health of Louisiana's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator informs decisions around industrial policy, infrastructure investment, and economic development initiatives in Louisiana.
Key Facts
- Louisiana is a major producer of wood products in the U.S.
- The wood product manufacturing industry accounts for over 10,000 jobs in Louisiana.
- Real GDP in this sector grew by 4.2% in Louisiana last year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the wood product manufacturing industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity, competitiveness, and growth of a key manufacturing sector within Louisiana's economy, informing decision-making around industrial policy and economic development.
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 principles.
Q: How is this trend used in economic policy?
A: This indicator informs decisions around industrial policy, infrastructure investment, and economic development initiatives in Louisiana.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wood Product Manufacturing (321) in Louisiana (LAWPMANRGSP), retrieved from FRED.