Louisiana Economic Activity Forecast 2023:Q2

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

As expected, inflation-adjusted U.S. Gross Domestic Product (GDP) slowed to 1.1% in the first quarter. Over the next year, national growth is expected to average 0.57% per quarter, largely unchanged from the outlook three months ago. Economic conditions are also expected to slow in Louisiana, particularly in the second half of 2023. The (statewide) number of new jobs is now projected to be 7,000 over the next year, a downward revision of 3,000 from last quarter’s report. Job growth is expected to positive (but slower) in each of the state’s metro regions over the next four quarters, with the New Orleans and Baton Rouge regions expected to experience the fastest gains.

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:Q2 Louisiana Economic Activity Forecast >

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2023 Report Release Schedule

Third Quarter: August 18, 2023
Fourth Quarter: November 17, 2023