Output & Income

Forecasts for output, personal income, & the coincident index

Gross State Product

At the state level gross domestic product is referred to as gross state product or (GSP). GSP is the primary indicator of economic performance in a geographic region. It represents the total market value of all newly produced final goods and services in a given year. The estimate is produced quarterly by the BEA and reported as annualized1. Below are some estimates of real GSP in levels and percent changes.

Real GSP Forecasts
GSP Growth Rate Forecasts
Manufacturing Forecasts

Personal Income

Estimates of personal income are provided by the BEA and are derived using net earnings by place of residence; dividend, interest & rent income; state unemployment benefits; and government transfers. The estimates are reported in nominal terms, but the forecast provided below is deflated to account for rising prices.

Personal Income Forecasts
Personal Income Growth Rate Forecasts

Coincident Economic Index

The coicident economic activity index is a compilation of nonfarm payroll employment, the unemployment rate, average employment hours in manufacturing, and salary data. It is designed to serve as a real time indicator of the Louisiana state economy. The leading index is the six month-ahead forecast of the coincident index.

Coincident Index Forecasts
Leading Index Forecasts

  1. This means that the estimate is reported such that, if the rest of the year progresses as the quarter has, then yearly GDP would equal that estimate. [return]

Patrick is an assistant professor of Economics at Louisiana Tech University. He researches interest rate determination and the inflationary consequences of suboptimal monetary policy. He teaches monetary economics, research methods & macroeconomic theory.