The U.S. Census Bureau has published new data from the Business Trends and Outlook Survey (BTOS), which provides ongoing measurements of business conditions and forecasts. The survey includes data from businesses with multiple units or locations and gathers information similar to other economic surveys, including revenues, employment numbers, hours worked, and inventories.
According to the Census Bureau, BTOS covers all employer businesses in the United States except for farms. The survey aims to offer a continuous overview of the economy by releasing key economic metrics every two weeks. With detailed geographic and subsector breakdowns, BTOS helps track the effects of events such as natural disasters or economic crises and supports efforts to monitor recovery.
Approximately 1.2 million businesses are included in the BTOS sample. These are divided into six panels of about 200,000 businesses each; each panel is surveyed every 12 weeks over a one-year period. The agency estimates that it takes respondents about nine minutes to complete the survey.
Biweekly data releases will include results by sector, state, and for the 25 largest metropolitan statistical areas. The Census Bureau states that this information provides local, state, and federal officials with real-time data needed for policymaking and decision-making purposes. Businesses can also use these results to inform their own economic decisions.
No formal news release accompanied this announcement; only a tip sheet was issued.
