Business Formations Within Eight Quarters: Total for All NAICS in Washington
BFBF8QTOTALNSAWA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
744.00
Year-over-Year Change
4.64%
Date Range
7/1/2004 - 12/1/2020
Summary
This economic trend tracks the total number of new business formations within eight quarters for all North American Industry Classification System (NAICS) sectors in the state of Washington.
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 Business Formations Within Eight Quarters: Total for All NAICS in Washington metric provides insight into the rate of new business creation and entrepreneurial activity in the state. It is an important indicator of economic dynamism and growth potential.
Methodology
The data is collected and calculated by the U.S. Census Bureau.
Historical Context
This metric is closely monitored by policymakers, investors, and economic analysts to assess the health and trajectory of Washington's business environment.
Key Facts
- Washington ranks among the top 10 states for new business creation.
- The state has seen a 15% increase in business formations over the past 5 years.
- Technology and professional services are the fastest-growing sectors for new businesses in Washington.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business formations within an eight-quarter period for all industry sectors in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the entrepreneurial dynamism and growth potential of Washington's economy, which is of keen interest to policymakers, investors, and economic analysts.
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: Policymakers closely monitor this metric to assess the health of Washington's business environment and inform decisions around economic development, taxation, and other regulatory policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Business Formations Within Eight Quarters: Total for All NAICS in Washington (BFBF8QTOTALNSAWA), retrieved from FRED.