Spliced Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania
BFSBF8QTOTALSAPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,234.00
Year-over-Year Change
26.95%
Date Range
7/1/2004 - 6/1/2025
Summary
The 'Spliced Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania' series tracks the total number of new business formations in Pennsylvania within an 8-quarter time frame. This metric is a key indicator of 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
This series measures the total number of new business formations across all industries (North American Industry Classification System or NAICS) in Pennsylvania over an 8-quarter period. It provides insights into the level of entrepreneurship and small business creation in the state, which are important drivers of economic growth and employment.
Methodology
The data is collected by the U.S. Census Bureau through business registration filings.
Historical Context
Policymakers and economists monitor this trend to assess the health of Pennsylvania's small business ecosystem and entrepreneurial climate.
Key Facts
- Pennsylvania ranked 6th nationally in total new business formations in 2021.
- Small businesses account for over 99% of all businesses in Pennsylvania.
- The state saw a 20% increase in new business applications in 2020 compared to 2019.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business formations across all industries in Pennsylvania within an 8-quarter (2-year) time frame.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of entrepreneurial activity and small business creation in Pennsylvania, which are key drivers of economic growth and employment in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through business registration filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Pennsylvania's small business ecosystem and entrepreneurial climate, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Spliced Business Formations Within Eight Quarters: Total for All NAICS in Pennsylvania (BFSBF8QTOTALSAPA), retrieved from FRED.