Total Revenue for Management Consulting Services, All Establishments, Employer Firms
REVEF54161ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
307,310.00
Year-over-Year Change
121.16%
Date Range
1/1/1998 - 1/1/2022
Summary
This economic trend measures the total revenue generated by management consulting services firms in the United States. It provides insights into the overall demand and growth of this important professional services industry.
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 Total Revenue for Management Consulting Services, All Establishments, Employer Firms series tracks the aggregate sales and receipts of consulting companies across the country. This metric is a key indicator of economic activity and investment in professional advisory services.
Methodology
The data is collected through surveys of U.S. businesses by the Census Bureau.
Historical Context
Policymakers and analysts monitor this trend to gauge the health of the management consulting sector and broader professional services industry.
Key Facts
- Consulting services revenue totaled over $250 billion in the latest year.
- This industry employs nearly 2 million people in the United States.
- Revenue growth has averaged 5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by management consulting services firms across the United States.
Q: Why is this trend relevant for users or analysts?
A: The total revenue for management consulting services is an important indicator of activity and investment in the professional services industry, which is a key driver of economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses conducted by the Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the health of the management consulting sector and broader professional services industry, which informs decisions around economic and regulatory policy.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of the latest data, and the survey-based methodology may not capture all revenue sources.
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Citation
U.S. Federal Reserve, Total Revenue for Management Consulting Services, All Establishments, Employer Firms (REVEF54161ALLEST), retrieved from FRED.