Louisiana Economic Activity Forecast 2023:Q1

The Louisiana Economic Activity Forecast provides data and analysis to policymakers, the business community, and general public. The report presents baseline, optimistic, and pessimistic scenarios for key Louisiana economic indicators.

Scenarios and projections will be updated quarterly to reflect the most up-to-date economic outlook for the U.S. economy and other vital sectors that are influential in shaping Louisiana’s economic activity. The report is compiled by Dr. Gary A. Wagner, professor and Acadiana Business Economist/BORSF Endowed Chair in Economics at B.I. Moody III College of Business Administration.

Executive Summary
The U.S. economy expanded at a 3% (annualized) clip over the past six months. While professional forecasters continue to expect slower growth in the second half of 2023, the national outlook has (slightly) improved for the first time in nearly two years. The outlook for Louisiana is largely unchanged from the previous report. While growth in statewide inflation-adjusted GDP is expected to remain close to zero for the next year and housing price growth is now expected to slow more rapidly, the state is expected to gain 6,000 more jobs in 2023 than previously projected. The New Orleans and Lake Charles regions are expected to gain the most jobs (in percentage terms) this year, but every region is projected to experience slower growth than last year.

Every forecasting model contains uncertainty.The results in this report are intended to provide broad guidance and should not be a direct cause for decision-making.

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2023:Q1 Louisiana Economic Activity Forecast >

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2023 Report Release Schedule

Second Quarter: May 19, 2023
Third Quarter: August 18, 2023
Fourth Quarter: November 17, 2023