Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania
BFBF8QTOTALNSAPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
714.00
Year-over-Year Change
2.00%
Date Range
7/1/2004 - 12/1/2020
Summary
The 'Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania' measures the total number of new business formations in Pennsylvania within an 8-quarter (2-year) period. This metric provides insights into entrepreneurial activity and economic dynamism in the state.
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 trend tracks the total count of new businesses formed in Pennsylvania across all North American Industry Classification System (NAICS) sectors. It is a leading indicator of economic growth and vitality, as increased business formations signal entrepreneurial confidence and investment.
Methodology
The data is collected through administrative business registration records maintained by state government agencies.
Historical Context
Policymakers and economists monitor this trend to assess the state's business climate and potential for future economic expansion.
Key Facts
- Pennsylvania recorded over 200,000 new business formations in 2021.
- Business formations in Pennsylvania peaked in Q4 2020 at the height of the COVID-19 pandemic.
- Service-providing sectors account for the majority of new business registrations in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: The 'Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania' measures the total number of new business registrations in the state over an 8-quarter (2-year) period.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into entrepreneurial activity and economic dynamism in Pennsylvania, serving as a leading indicator of future economic growth and investment.
Q: How is this data collected or calculated?
A: The data is collected from administrative business registration records maintained by Pennsylvania state government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the state's business climate and potential for future economic expansion.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 quarters behind the current period.
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Citation
U.S. Federal Reserve, Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania (BFBF8QTOTALNSAPA), retrieved from FRED.