Revenue from Households for Management, Scientific, and Technical Consulting Services, Establishments Subject to Federal Income Tax
HHD5416TAXABL144QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,520.00
Year-over-Year Change
118.04%
Date Range
1/1/2004 - 10/1/2015
Summary
This economic trend measures the revenue from households for management, scientific, and technical consulting services provided by establishments subject to federal income tax. It is a key indicator of demand for professional consulting services within 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 from Households for Management, Scientific, and Technical Consulting Services, Establishments Subject to Federal Income Tax metric tracks the income received by consulting firms from individual consumers. This helps economists and policymakers understand consumer spending patterns and the overall health of the professional services sector.
Methodology
The data is collected through surveys of businesses in the consulting industry by the U.S. Census Bureau.
Historical Context
This trend provides insight into consumer demand for professional expertise and is used to inform economic policy and market analysis.
Key Facts
- Consulting services account for over $300 billion in annual U.S. economic activity.
- Demand for consulting services tends to track closely with broader economic conditions.
- The professional services sector employs over 8 million workers in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue earned by management, scientific, and technical consulting services establishments from household consumers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand for professional expertise and consulting services, which is an important indicator of broader economic activity and the health of the professional services sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the consulting industry conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess consumer spending patterns and the overall state of the professional services industry, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Revenue from Households for Management, Scientific, and Technical Consulting Services, Establishments Subject to Federal Income Tax (HHD5416TAXABL144QNSA), retrieved from FRED.