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Louisiana GDP rises again in second quarter

4 years 4 months 2 weeks ago Wednesday, November 14 2018 Nov 14, 2018 November 14, 2018 9:36 PM November 14, 2018 in News
Source: Associated Press

BATON ROUGE, La. (AP) - Louisiana posted growth of 4.3 percent in real gross domestic product during the second quarter, ranking 12th in the nation for growth.

The Advocate reports the U.S. Bureau of Economic Analysis released the figures Wednesday. They represent the second straight quarter of strong growth in Louisiana after a poor showing in 2017.

Louisiana's GDP was more than $249 billion during the second quarter. Gross domestic product measures the market value of goods and services produced. It's a widely-used benchmark for the economy.

Mining, quarrying and oil and gas extraction rose by 0.40 percentage points in Louisiana after tumbling in the first quarter. Construction and utilities are among the other sectors that gained during the second quarter.

The only sectors in Louisiana that fell during the period are educational services and finance and insurance.

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