Revenue from Businesses for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax
BUS54TAXABL144QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
508,919.00
Year-over-Year Change
17.80%
Date Range
7/1/2006 - 1/1/2025
Summary
This economic trend measures the revenue generated by professional, scientific, and technical service businesses that are subject to federal income tax. It provides insights into the financial health and economic activity within this important sector.
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 'Revenue from Businesses for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax' series tracks the quarterly total revenue for a subset of establishments in this industry group. This data is used by economists and policymakers to analyze trends in professional services activity and assess the broader economic climate.
Methodology
The data is collected by the U.S. Census Bureau through quarterly surveys of businesses.
Historical Context
This economic indicator is closely monitored as it reflects the demand for high-skilled services and can signal broader economic conditions.
Key Facts
- This metric excludes self-employed individuals and non-profit organizations.
- The professional, scientific, and technical services sector accounts for over 8% of U.S. GDP.
- Revenue in this industry is closely tied to overall business investment and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by professional, scientific, and technical service businesses that are subject to federal income tax, providing insights into activity and performance in this key economic sector.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for assessing the health of the professional services industry and broader economic conditions, as demand for these high-skilled services is closely tied to overall business investment and growth.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through quarterly surveys of businesses in the professional, scientific, and technical services industry.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by policymakers and analysts as it reflects the strength of demand for high-skilled services, which can signal broader trends in business investment and the overall economic climate.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a lag of several months. As it covers only businesses subject to federal income tax, it may not fully represent the entire professional services industry.
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Citation
U.S. Federal Reserve, Revenue from Businesses for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax (BUS54TAXABL144QNSA), retrieved from FRED.