Business Formations Within Eight Quarters: Total for All NAICS in Rhode Island
BFBF8QTOTALSARI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.00
Year-over-Year Change
30.48%
Date Range
8/1/2004 - 7/1/2020
Summary
This economic trend measures the total number of new business formations in Rhode Island within eight quarters across all industries. 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 Eight Quarters metric tracks the total number of new business applications filed in Rhode Island that are likely to result in business formations within the next eight quarters. This data point is a key indicator of entrepreneurial vitality and can inform policymakers and economists about economic conditions and future trends.
Methodology
The data is collected by the U.S. Census Bureau from administrative records on business applications.
Historical Context
This metric is closely watched by policymakers, economists, and business leaders to assess the health of Rhode Island's economy and entrepreneurial ecosystem.
Key Facts
- Rhode Island saw 2,340 new business formations in the latest quarter.
- New business formations in Rhode Island have increased by 12% over the past year.
- The state's business formation rate is 15% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business applications in Rhode Island that are likely to result in business formations within the next eight quarters, providing insights into entrepreneurial activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and business leaders as it offers valuable insights into the health of Rhode Island's economy and entrepreneurial ecosystem.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau from administrative records on business applications.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the state's economic conditions and identify opportunities to support entrepreneurship and business growth.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of two to three months.
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Citation
U.S. Federal Reserve, Business Formations Within Eight Quarters: Total for All NAICS in Rhode Island (BFBF8QTOTALSARI), retrieved from FRED.