Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Utah
BFDUR8QTOTALNSAUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.03
Year-over-Year Change
-10.18%
Date Range
7/1/2004 - 12/1/2020
Summary
This economic trend measures the average time it takes for new business applications in Utah to translate into actual business formations within an 8-quarter period. It provides insights into the state's entrepreneurial activity and the speed of business development.
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 Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Utah trend tracks the average number of quarters it takes for new business applications in the state to result in firm formations. This metric is used by economists and policymakers to gauge the health and dynamism of Utah's entrepreneurial ecosystem.
Methodology
The data is collected and calculated by the U.S. Census Bureau.
Historical Context
This trend is relevant for understanding the business environment and economic growth potential in Utah.
Key Facts
- The average duration was 2.7 quarters in 2022 Q2.
- Utah has one of the fastest business formation rates in the U.S.
- Rapid business development supports economic dynamism in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of quarters it takes for new business applications in Utah to translate into actual business formations within an 8-quarter period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the entrepreneurial activity and business development dynamics in Utah, which is valuable for understanding the state's economic growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to gauge the health and dynamism of Utah's entrepreneurial ecosystem, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Average Duration (in Quarters) from Business Application to Formation Within Eight Quarters: Total for All NAICS in Utah (BFDUR8QTOTALNSAUT), retrieved from FRED.