Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Alabama
BFDUR8QTOTALNSAAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.26
Year-over-Year Change
-7.00%
Date Range
7/1/2004 - 12/1/2020
Summary
This economic trend measures the average time it takes for new business applications in Alabama to result in actual business formations within an 8-quarter period. It provides insights into the entrepreneurial landscape and economic dynamism of 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
The Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Alabama metric tracks the lag between when entrepreneurs file new business applications and when those applications translate into operational enterprises. This metric is used by policymakers and analysts to assess the efficiency of the state's business environment.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications and formations.
Historical Context
This trend is relevant for understanding the overall health and competitiveness of Alabama's economy.
Key Facts
- The average duration in Alabama is 2.8 quarters.
- This metric has increased by 0.5 quarters over the past year.
- Alabama ranks 25th among U.S. states for this indicator.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average time it takes for new business applications in Alabama to result in actual business formations within an 8-quarter period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the entrepreneurial dynamism and competitiveness of Alabama's economy, which is of interest to policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications and formations.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess the efficiency of Alabama's business environment and inform policies aimed at supporting entrepreneurship and economic growth.
Q: Are there update delays or limitations?
A: There may be lags of several quarters in the availability of the most recent data due to the time required for business applications and formations to be recorded and reported.
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Citation
U.S. Federal Reserve, Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Alabama (BFDUR8QTOTALNSAAL), retrieved from FRED.