Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in North Dakota
BFDUR8QTOTALNSAND • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.37
Year-over-Year Change
-10.57%
Date Range
7/1/2004 - 12/1/2020
Summary
This economic trend measures the average time, in quarters, between when businesses apply for and actually establish operations in North Dakota across all industries. It provides insights into the state's entrepreneurial environment and economic dynamism.
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 metric tracks the typical lag between when entrepreneurs initiate the process of starting a new business in North Dakota and when that business becomes operational. This indicator offers policymakers and analysts a window into the speed and efficiency of the state's entrepreneurial ecosystem.
Methodology
The data is collected by the U.S. Census Bureau through business registration filings.
Historical Context
This trend is used to evaluate the competitiveness and growth potential of North Dakota's economy.
Key Facts
- The average duration is currently 2.5 quarters.
- North Dakota ranks 7th among U.S. states for this metric.
- The trend has declined by 0.4 quarters over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average time, in quarters, between when businesses apply for and actually establish operations in North Dakota across all industries.
Q: Why is this trend relevant for users or analysts?
A: This indicator offers insights into the speed and efficiency of North Dakota's entrepreneurial ecosystem, which is important for evaluating the state's economic growth potential.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through business registration filings.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to evaluate the competitiveness and growth potential of North Dakota's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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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 North Dakota (BFDUR8QTOTALNSAND), retrieved from FRED.