La.'s real GDP fell 4.3%

Louisiana's economy tanked to start the year, according to federal data. The downward spiral was a pullback in part of Louisiana's manufacturing sector, and natural gas prices and overall U.S. inflation soared. The state's real gross domestic product fell by 4.3% on an annualized basis in the first quarter, nearly three times steeper than the U.S. economy. Only five other states posted a sharper contraction. "It’s probably hard to imagine a report that’s worse right now," said Gary Wagner, an economist at the University of Louisiana at Lafayette, who found declines in almost every state and many industries. "I think there's a 50-50 chance we're in a recession." Source: NOLA.com 06/30/22) What happened to Louisiana's economy? New data shows big slump. | Business News | nola.com