Total Revenue for Other Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax
REV5419TAXABL144QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,435.00
Year-over-Year Change
50.91%
Date Range
7/1/2012 - 7/1/2023
Summary
This economic trend measures the total revenue for establishments in the 'Other Professional, Scientific, and Technical Services' industry that are subject to federal income tax. It provides insight into the financial performance and economic conditions within this segment of the professional services 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 'Other Professional, Scientific, and Technical Services' industry encompasses a diverse range of professional activities not classified elsewhere, such as veterinary services, photography, translation, and various consulting services. This revenue trend is a key indicator of the overall health and growth of this important economic subsector.
Methodology
The data is collected by the U.S. Census Bureau through quarterly surveys of business establishments.
Historical Context
This revenue trend is closely monitored by economists, policymakers, and industry analysts to gauge the strength of the professional services industry and its contribution to the broader economy.
Key Facts
- This industry accounts for over $1 trillion in annual revenue.
- Revenue growth in this sector outpaced overall GDP in recent years.
- The industry employs over 8 million workers in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by establishments in the 'Other Professional, Scientific, and Technical Services' industry that are subject to federal income tax.
Q: Why is this trend relevant for users or analysts?
A: This revenue trend provides valuable insights into the financial performance and economic conditions within a diverse and important segment of the professional services sector, which is a key driver of economic growth and innovation.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through quarterly surveys of business establishments.
Q: How is this trend used in economic policy?
A: This revenue trend is closely monitored by economists, policymakers, and industry analysts to gauge the strength of the professional services industry and its contribution to the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, and there may be a slight delay in the most recent quarter's figures being available.
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Citation
U.S. Federal Reserve, Total Revenue for Other Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax (REV5419TAXABL144QNSA), retrieved from FRED.