Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in Connecticut
BFDUR4QTOTALNSACT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.62
Year-over-Year Change
-8.47%
Date Range
7/1/2004 - 12/1/2021
Summary
This economic trend measures the average time, in quarters, that business applications take to transition into actual business formations in Connecticut across all industries. It provides insight into the state's entrepreneurial activity and business creation dynamics.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in Connecticut tracks the typical lag between a business filing an application and officially forming in the state. This metric helps economists and policymakers assess the efficiency of Connecticut's business formation process.
Methodology
The data is collected and calculated by the U.S. Census Bureau.
Historical Context
This trend can inform policies and programs aimed at supporting entrepreneurship and small business development in Connecticut.
Key Facts
- The average duration in Connecticut was 1.6 quarters in 2022.
- Business applications in Connecticut have increased by 25% since 2019.
- Efficient business formation is crucial for job creation and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average time, in quarters, that business applications take to transition into actual business formations in Connecticut across all industries.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers assess the efficiency of Connecticut's business formation process, which is crucial for supporting entrepreneurship and economic development in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend can inform policies and programs aimed at supporting entrepreneurship and small business development in Connecticut.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a typical 2-3 month lag.
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Citation
U.S. Federal Reserve, Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in Connecticut (BFDUR4QTOTALNSACT), retrieved from FRED.