FOR IMMEDIATE RELEASE
December 5, 2023
Contact: govpress@la.gov

BATON ROUGE, La. – According to Bureau of Economic Analysis data released this morning, Louisiana’s real Gross Domestic Product grew 3.2% in the second quarter of 2023, outpacing 40 other states and easily exceeding the national real GDP growth rate of 2.1%.

Among the 40 states that Louisiana outpaced are: Florida, Georgia, Arkansas, Mississippi, Alabama, South Carolina, North Carolina, Tennessee, Kentucky, Virginia, New York, California, Colorado, Arizona, Oregon and Washington.

“My administration has worked hard to grow and diversify Louisiana’s economy, and this top-10 GDP growth rate is yet another sign that our hard work is paying off,” said Governor John Bel Edwards. “We have the lowest unemployment rate in state history. We have increased capital investment every year since 2017, including three consecutive years of more than $20 billion for the first time in our state’s history. And our economic growth is expected to continue. Economist Loren Scott recently predicted that Louisiana will add 80,000 more jobs in 2024 and 2025 thanks to our success positioning Louisiana as a leader in the global energy transition.”

To read the Bureau of Economic Analysis’ full press release, click here.