Business Formations Within Eight Quarters: Total for All NAICS in Maine
BFBF8QTOTALNSAME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.00
Year-over-Year Change
-0.85%
Date Range
7/1/2004 - 12/1/2020
Summary
The 'Business Formations Within Eight Quarters: Total for All NAICS in Maine' metric tracks the total number of new business formations in Maine over an eight-quarter period. This provides insight 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
This series measures the total number of new business formations across all industries in Maine over an eight-quarter window. It is an important indicator of entrepreneurship, innovation, and economic vitality at the state level.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this trend to assess the business climate and economic outlook in Maine.
Key Facts
- Maine's business formations peaked in 2021.
- The trend declined during the COVID-19 pandemic.
- Business formations in Maine support job creation and economic growth.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business formations in Maine over an eight-quarter period, providing insight into entrepreneurial activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the business climate, economic dynamism, and entrepreneurial vitality in Maine, which is of interest to policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the business environment and economic outlook in Maine, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedules of the U.S. Census Bureau, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Business Formations Within Eight Quarters: Total for All NAICS in Maine (BFBF8QTOTALNSAME), retrieved from FRED.