Spliced Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania
BFSBF8QTOTALNSAPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,324.00
Year-over-Year Change
22.37%
Date Range
7/1/2004 - 7/1/2025
Summary
This economic trend tracks the number of new business formations in Pennsylvania within an 8-quarter period across all industries. It provides important 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 Spliced Business Formations Within Eight Quarters metric measures the total number of new businesses started in Pennsylvania over an 8-quarter (2-year) period, aggregated across all North American Industry Classification System (NAICS) sectors. This indicator is a key barometer of entrepreneurial vitality and can signal broader economic conditions.
Methodology
The data is collected and calculated by the U.S. Census Bureau through business registration records.
Historical Context
This trend is closely monitored by policymakers, economic development agencies, and market analysts to assess the health and growth potential of Pennsylvania's private sector.
Key Facts
- Pennsylvania ranked 6th among U.S. states for new business formations in 2021.
- The 8-quarter total increased by 7.2% in Pennsylvania from 2020 to 2021.
- Retail trade and professional services were the top sectors for new business starts.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of new business formations in the state of Pennsylvania over an 8-quarter (2-year) period, across all industry sectors.
Q: Why is this trend relevant for users or analysts?
A: Monitoring business formation activity is crucial for understanding entrepreneurial dynamism, economic growth potential, and the overall health of Pennsylvania's private sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau from business registration records.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies closely follow this metric to assess the business climate, inform targeted support programs, and evaluate the effectiveness of economic policies.
Q: Are there update delays or limitations?
A: There is typically a 6-9 month lag in data availability, and the metric may not capture all new business formations due to variations in registration requirements.
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Citation
U.S. Federal Reserve, Spliced Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania (BFSBF8QTOTALNSAPA), retrieved from FRED.