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Louisiana’s economic growth outpacing 40 states
Posted on 12/7/23 at 7:37 pm
Posted on 12/7/23 at 7:37 pm
quote:
Louisiana’s gross domestic product jumped 3.2% in the second quarter of 2023, faster than 40 other states, though experts contend the data doesn’t tell the whole story, reports The Center Square.
Figures released by the Bureau of Economic Analysis on Tuesday show Louisiana’s gross domestic product bump of 3.2% in the second quarter outpaced 40 other states, including all states east of the Mississippi River except West Virginia, which climbed 3.6%.
The growth in Louisiana compared to declines in neighboring Mississippi of 1.8% and Arkansas at negative 0.4%, while Texas was up 4.9%. The national average GDP growth was 2.1%. The rate increased in 46 states and the District of Columbia in the second quarter, ranging from 8.3% in Kansas to negative 4.3% in North Dakota.
Pelican Institute economist Vance Ginn told The Center Square there is more to the numbers in Louisiana that’s not obvious in the bureau data. He contends that the real private economy increased by 3.1%.
“That shows there’s still some weakness out there, but the economy was growing,” Ginn said. “The contributions really were from oil and gas activity, mining activity, durable goods in the manufacturing sector and professional business services, while there were a lot of other industries and sectors that declined in the second quarter.”
Ginn said those declines are a “cause for concern” that became apparent in October, when Louisiana experienced job losses.
LINK
Seems like good news. Governor-elect Jeff Landry already doing work!
![](https://images.tigerdroppings.com/Images/Icons/Iconcheers.gif)
Posted on 12/7/23 at 7:40 pm to ragincajun03
Only way to go is up after 8 years of JBE.
Posted on 12/7/23 at 7:41 pm to ragincajun03
I can tell by the amount of hispanics I’ve seen around here lately.
Posted on 12/7/23 at 7:42 pm to ragincajun03
I'm sure this will be sustainable growth.
Posted on 12/7/23 at 7:43 pm to ragincajun03
quote:
8.3% in Kansas
What’s going on there?
Posted on 12/7/23 at 7:49 pm to ragincajun03
Hopefully we can straighten out some of our piss poor economic policies with a new Governor in office (not holding my breath) and get some real economic growth.
Posted on 12/7/23 at 8:01 pm to ragincajun03
quote:live and die by the price of oil
Seems like good news. Governor-elect Jeff Landry already doing work!
Posted on 12/7/23 at 8:05 pm to ragincajun03
Truck nuts ON
or something
or something
Posted on 12/7/23 at 8:11 pm to ragincajun03
quote:
Governor-elect Jeff Landry already doing work
quote:
second quarter of 2023,
Nope. Try again. This is all Edward’s
But not to worry, y’all will soon be following neighboring republican led states MS and Arkansas with a nice slow decline
Posted on 12/7/23 at 8:15 pm to ragincajun03
In Louisiana's case this stat is like being the tallest midget.
Posted on 12/7/23 at 10:26 pm to ragincajun03
This is driven by strong commodities prices on Louisiana’s raw material exports. That’s good, but not the result of a bunch of new jobs or businesses. Any good news is worth celebrating, though.
Posted on 12/7/23 at 10:47 pm to ragincajun03
quote:
Governor-elect Jeff Landry already doing work!
Umm how?
Posted on 12/8/23 at 4:23 am to ragincajun03
quote:
“The contributions really were from oil and gas activity, mining activity
The two things Biden is working hardest to kill. Dims
Posted on 12/8/23 at 5:47 am to ragincajun03
quote:3.2% of zero is zero
Louisiana’s gross domestic product jumped 3.2%
Posted on 12/8/23 at 6:39 am to ragincajun03
quote:
Louisiana
Nothing's gonna ever keep you down
![](https://media.tenor.com/POtcJq9lL7wAAAAC/karate-kid-karate.gif)
Posted on 12/8/23 at 7:41 am to ragincajun03
This has nothing to do with either state party's policies and has everything to do with the fact that the Europeans, Japanese, and Koreans are buying lots of LNG, specialty chemicals, and lumber products that they don't have.
Posted on 12/8/23 at 7:52 am to ragincajun03
Hopefully being a red state now will help. My boy Jeff will hopefully bring us into the light!
Posted on 12/8/23 at 9:20 am to ragincajun03
Issue isn't economic growth, it's always been how that economic growth enriches the lives of the taxpayers in that state. The answer to that in Louisiana is always...very little. It means higher wages for a small portion of the population, it doesn't mean lower taxes for the majority. It doesn't guarantee new roads, better schools, lower poverty and crime, and an overall higher QOL. That's a pipe dream for Louisiana. Because our growth doesn't stay here, it goes to the big multi-national industries we bribe with tax credits to come here. It comes back to the Louisiana politicians in kick backs and donations for their service to the rape and pillage of Louisiana's workforce and resources.
In summation...move.
In summation...move.
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