Business Formations Within Four Quarters: Total for All NAICS in Midwest Census Region
BFBF4QTOTALSAMW • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,266.00
Year-over-Year Change
23.37%
Date Range
7/1/2004 - 12/1/2021
Summary
The 'Business Formations Within Four Quarters: Total for All NAICS in Midwest Census Region' metric tracks new business applications in the Midwest over a 4-quarter period. It provides insights into regional entrepreneurial activity 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
This metric, published by the U.S. Census Bureau, measures the total number of new business applications filed across all industries in the Midwest region over the previous four quarters. It serves as an indicator of business formation and startup activity in the region.
Methodology
The data is collected through business registration filings across state and local jurisdictions in the Midwest.
Historical Context
This metric is closely watched by policymakers and economists to assess the health and trajectory of the Midwest economy.
Key Facts
- The Midwest Census Region includes 12 states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
- New business applications saw a sharp decline in the Midwest during the COVID-19 pandemic but have since rebounded.
- Trends in business formations can signal changes in economic confidence, innovation, and job creation in the Midwest.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business applications filed across all industries in the Midwest Census Region over the previous four quarters.
Q: Why is this trend relevant for users or analysts?
A: Trends in business formations provide insights into entrepreneurial activity, economic dynamism, and the overall health of the Midwest regional economy.
Q: How is this data collected or calculated?
A: The data is collected through business registration filings across state and local jurisdictions in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers and economists to assess the trajectory of the Midwest economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a slight delay to allow for comprehensive reporting across state and local jurisdictions.
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Citation
U.S. Federal Reserve, Business Formations Within Four Quarters: Total for All NAICS in Midwest Census Region (BFBF4QTOTALSAMW), retrieved from FRED.