Projected Business Formations Within Eight Quarters: Total for All NAICS in Illinois
BFPBF8QTOTALNSAIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,188.00
Year-over-Year Change
10.51%
Date Range
7/1/2004 - 7/1/2025
Summary
The 'Projected Business Formations Within Eight Quarters: Total for All NAICS in Illinois' metric tracks the expected number of new business formations in Illinois over an 8-quarter horizon. This forward-looking indicator provides insights into the state's entrepreneurial climate and economic outlook.
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 represents the projected total number of new business formations across all North American Industry Classification System (NAICS) sectors in Illinois within the next eight quarters. It is an important leading indicator for economic policymakers and analysts to gauge the business and investment climate in the state.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on business registration filings.
Historical Context
This metric is closely monitored by state and federal policymakers to inform economic development strategies and fiscal policy decisions.
Key Facts
- Illinois ranks 5th among U.S. states for projected business formations.
- Projected business formations in Illinois have increased by 12% over the past year.
- The construction and professional services sectors account for the highest shares of projected new businesses in Illinois.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the expected number of new business formations across all industries in Illinois over the next eight quarters.
Q: Why is this trend relevant for users or analysts?
A: This forward-looking indicator provides insights into the entrepreneurial climate and economic outlook for Illinois, which is valuable for policymakers, investors, and business leaders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on business registration filings.
Q: How is this trend used in economic policy?
A: State and federal policymakers closely monitor this metric to inform economic development strategies and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag, and may not capture all new business registrations in real-time.
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Citation
U.S. Federal Reserve, Projected Business Formations Within Eight Quarters: Total for All NAICS in Illinois (BFPBF8QTOTALNSAIL), retrieved from FRED.