Total Revenue for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax
This dataset tracks total revenue for professional, scientific, and technical services, establishments subject to federal income tax over time.
Latest Value
0.40
Year-over-Year Change
-80.00%
Date Range
10/1/2006 - 1/1/2025
Summary
This economic trend measures total revenue for professional, scientific, and technical services establishments subject to federal income tax. It provides insights into the financial health and growth of a key segment of the U.S. service 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 Total Revenue for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax is a key economic indicator that tracks the sales and receipts of businesses in industries such as law, accounting, architecture, engineering, and scientific research. This metric offers valuable insights into the overall activity and performance of this critical service sector.
Methodology
The data is collected and calculated by the U.S. Census Bureau through quarterly surveys of businesses.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess the state of the professional services industry and its broader implications for the U.S. economy.
Key Facts
- Professional, scientific, and technical services account for over $2 trillion in annual revenue.
- This sector has seen steady growth, outpacing the overall U.S. economy in recent years.
- The health of the professional services industry is closely tied to broader economic conditions and investment activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by professional, scientific, and technical services establishments that are subject to federal income tax in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial performance and growth of a key service sector, which is crucial for understanding the overall state of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through quarterly surveys of businesses in the professional, scientific, and technical services industries.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the health of the professional services industry and its broader implications for the U.S. economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Total Revenue for Professional, Scientific, and Technical Services, Establishments Subject to Federal Income Tax (REV54TAXABL157QSA), retrieved from FRED.