Saturday, February 23, 2013
New Orleans area economy produced more in 2011, but didn't beat inflation
I found this article and it interested me because I was born and raised in Louisiana and as I read it, it showed me some stuff that we learned in class. It talks about how the economy produced more but in terms of real GDP the New Orleans economy had a slight decrease. This just shows how looking at nominal rates isn't always the best thing to do but looking at the "real" numbers is the best way to get an idea of how a certain economy is doing.
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During that year, New Orleans had an increase in trade, professional and business services, leisure and hospitality, financial activities, construction and education. They should be able to beat inflation in the near future.
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