Revenue for Food Services and Drinking Places, Establishments Subject To Federal Income Tax, Employer Firms
This dataset tracks revenue for food services and drinking places, establishments subject to federal income tax, employer firms over time.
Latest Value
957444.00
Year-over-Year Change
80.14%
Date Range
1/1/2013 - 1/1/2022
Summary
This economic trend measures the total revenue generated by food services and drinking places that are subject to federal income tax and operate as employer firms. It provides insight into the financial health and activity of this key sector of the U.S. economy.
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 for Food Services and Drinking Places, Establishments Subject To Federal Income Tax, Employer Firms series tracks the total sales and receipts of food service and drinking establishments that are legally organized as for-profit businesses and have at least one paid employee. This data is used by economists and policymakers to analyze consumer spending, business conditions, and broader economic trends.
Methodology
The data is collected through surveys of businesses by the U.S. Census Bureau.
Historical Context
This revenue metric is closely watched as an indicator of consumer demand and the overall strength of the hospitality industry.
Key Facts
- Food services and drinking places generated over $850 billion in revenue in 2021.
- The sector accounts for over 11 million jobs in the U.S. economy.
- Revenue in this industry declined sharply during the COVID-19 pandemic but has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by food services and drinking places that are subject to federal income tax and operate as employer firms.
Q: Why is this trend relevant for users or analysts?
A: This revenue metric provides important insights into consumer spending, business conditions, and the overall strength of the hospitality industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This revenue indicator is closely watched by economists and policymakers as a signal of consumer demand and the health of the broader economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Revenue for Food Services and Drinking Places, Establishments Subject To Federal Income Tax, Employer Firms (FSADPRESTFI2722), retrieved from FRED.