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.
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.
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.
- 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]