Projected Business Formations Within Eight Quarters: Total for All NAICS in Illinois
BFPBF8QTOTALSAIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,231.00
Year-over-Year Change
10.50%
Date Range
7/1/2004 - 7/1/2025
Summary
This economic indicator tracks the projected number of new business formations in Illinois within the next eight quarters, across all sectors of the economy. It provides valuable insights into the state's entrepreneurial activity 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
The Projected Business Formations Within Eight Quarters metric forecasts the total number of new businesses expected to be formed in Illinois over the next two years. This trend is closely monitored by policymakers, investors, and economists to gauge the state's business climate and entrepreneurial dynamism.
Methodology
The data is collected and calculated by the U.S. Census Bureau using advanced statistical modeling techniques.
Historical Context
This indicator is widely used to inform economic development strategies, investment decisions, and policy debates at the state and local level.
Key Facts
- Illinois ranks among the top 10 states for new business formations.
- The projected business formations metric has shown steady growth in recent years.
- High levels of new business activity are often associated with job creation and economic vitality.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the projected number of new business formations in Illinois across all industry sectors over the next eight quarters.
Q: Why is this trend relevant for users or analysts?
A: The projected business formations metric provides valuable insights into the state's entrepreneurial activity and economic outlook, which is of interest to policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau using advanced statistical modeling techniques.
Q: How is this trend used in economic policy?
A: This indicator is widely used to inform economic development strategies, investment decisions, and policy debates at the state and local level in Illinois.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a slight delay to allow for comprehensive data collection and analysis.
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Citation
U.S. Federal Reserve, Projected Business Formations Within Eight Quarters: Total for All NAICS in Illinois (BFPBF8QTOTALSAIL), retrieved from FRED.