The U.S. Census Bureau has released new data from the Business Trends and Outlook Survey (BTOS), a survey designed to measure business conditions and projections on an ongoing basis. The BTOS now includes information for multiunit or multilocation businesses.
According to the Census Bureau, “BTOS data are representative of all employer businesses in the U.S. economy, excluding farms. BTOS provides insight into the state of the economy by providing continuous, timely data for key economic measures every two weeks. By providing continuous data with geographic and subsector detail, BTOS captures the impact of events like natural disasters and economic crises and assists in monitoring recovery efforts.”
The survey sample covers about 1.2 million businesses, with biweekly data collection cycles. These businesses are divided into six panels of approximately 200,000 cases each; each panel is surveyed every 12 weeks throughout a year. The agency estimates that respondents spend around nine minutes completing the survey, which includes reviewing instructions and answers.
Data from BTOS will be released every two weeks and will be available by sector, state, and for the 25 most populous metropolitan statistical areas. The results provide local, state, and federal officials with real-time information that supports policymaking and decision-making processes. Businesses can also use this information to guide their own economic decisions.
There is no news release associated with this announcement; only a tip sheet was provided.
