Business Formations Within Four Quarters: Total for All NAICS in Utah
BFBF4QTOTALNSAUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
474.00
Year-over-Year Change
19.70%
Date Range
7/1/2004 - 12/1/2021
Summary
This economic trend measures the total number of new business formations in Utah within four quarters. It 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
The Business Formations Within Four Quarters: Total for All NAICS in Utah metric tracks the number of new establishments formed in Utah over a rolling 4-quarter period. It offers a timely gauge of business startup activity, a key indicator of economic vitality and growth potential.
Methodology
The data is collected and calculated by the U.S. Census Bureau through business registration filings.
Historical Context
Policymakers and analysts use this trend to assess the health and trajectory of Utah's entrepreneurial ecosystem.
Key Facts
- Utah ranks among the top states for new business creation.
- Business formations rebounded strongly in Utah after the COVID-19 pandemic.
- The state has a thriving tech and innovation hub in the Salt Lake City metropolitan area.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business formations in Utah over a rolling 4-quarter period, providing insights into entrepreneurial activity and economic dynamism in the state.
Q: Why is this trend relevant for users or analysts?
A: The Business Formations Within Four Quarters trend offers a timely gauge of startup activity, which is a key indicator of economic vitality and growth potential for Utah.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through business registration filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and trajectory of Utah's entrepreneurial ecosystem, which is crucial for fostering economic growth and innovation.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent business formation activity in Utah.
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Citation
U.S. Federal Reserve, Business Formations Within Four Quarters: Total for All NAICS in Utah (BFBF4QTOTALNSAUT), retrieved from FRED.