Number of National Member Commercial Banks in Pennsylvania
X08CBMBNPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
687.00
Year-over-Year Change
-17.92%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of National Member Commercial Banks in Pennsylvania tracks the total number of these institutions operating in the state. This metric provides insight into the banking landscape and economic activity in Pennsylvania.
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
This series represents the total count of national member commercial banks located in Pennsylvania. It is an indicator of the size and dynamics of the state's banking sector, which plays a key role in supporting economic growth and facilitating financial transactions.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
Policymakers and analysts use this metric to monitor the health and competitiveness of Pennsylvania's banking industry.
Key Facts
- Pennsylvania has the 6th largest banking sector in the U.S.
- The number of national member banks in PA peaked at 629 in 1984.
- Since 2000, the number of national member banks in PA has declined by over 35%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of national member commercial banks operating in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and dynamics of Pennsylvania's banking sector, which is a key driver of the state's economic activity and growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the health and competitiveness of Pennsylvania's banking industry, which has implications for broader economic conditions in the state.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Federal Reserve, but there may be some delays in reporting due to the time required to collect and process the information from individual banks.
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Citation
U.S. Federal Reserve, Number of National Member Commercial Banks in Pennsylvania (X08CBMBNPA), retrieved from FRED.