JUNE 15, 2022 — The U.S. Census Bureau today announced the launch of a new experimental survey to measure business conditions on an ongoing basis. The Business Trends and Outlook Survey (BTOS) is the successor to the Small Business Pulse Survey, a high-frequency survey that measured the effect of changing business conditions during the coronavirus pandemic and other major events like hurricanes on our nation’s small businesses.
BTOS will increase the scope of the Small Business Pulse Survey to include large single-location employer businesses (those with 500 or more employees). It will provide insight into the state of the economy by providing continuous, timely data for key economic measures every two weeks.
In April 2020, the U.S. Census Bureau launched two new surveys, the Small Business Pulse Survey (SBPS) and the Household Pulse Survey, to produce near real-time data on the challenges small businesses and households were facing due to the Coronavirus pandemic. Two years of data collection has demonstrated the value of the pulse surveys to a vast set of stakeholders including policymakers, state and local governments, nonprofit and trade organizations, businesses, academia, and the public.
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The Census Bureau will continue to produce high frequency, detailed, near real-time data for businesses beginning mid-August 2022 under the new Business Trends and Outlook Survey (BTOS). The BTOS will build on the success of the SBPS, using similar methodology to capture key economic data in near real time as well as expectations about future business conditions. BTOS will produce biweekly estimates on a continuous basis, initially for all single-location employer businesses in the 50 states, District of Columbia and Puerto Rico, which are the same geographies included in SBPS.
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The Business Trends and Outlook Survey (BTOS) provides insight into the state of the economy by providing timely data for key economic measures and business expectations about future conditions. By providing detailed geographic and subsector data, BTOS will provide local, state, and federal officials near real-time data for policy and decision-making including after natural disasters or during economic crises. The BTOS will also provide insight into recovery after these events.
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The BTOS sample consists of approximately 1.2 million businesses split into 6 panels (approximately 200, 000 cases per panel). Businesses in each panel will be asked to report once every 12 weeks for a year. Data collection will occur every two weeks. The Bureau estimates that it will take the average respondent approximately 6 minutes to complete the survey, including the time for reviewing the instructions and answers.
BTOS data are representative of all single location employer businesses in the U.S. economy, excluding farms. Data will be released every two weeks and be available by sector, state and the 25 most populous Metropolitan Statistical Areas.
Press Release Data Collection Begins for New Business Trends and Outlook Survey July 15, 2022 The U.S. Bureau today announced the start of data collection for its new survey to measure business conditions on an ongoing basis. Press Release Bureau Announces New Business Trends and Outlook Survey June 15, 2022 The U.S. Bureau today announced the launch of a new experimental survey to measure business conditions on an ongoing basis.
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This summer, the U.S. Bureau will launch a new experimental survey that will provide biweekly business data on businesses of all sizes and a multitude of geographies.
The new Business Trends and Outlook Survey (BTOS) is the successor to and builds upon the Bureau’s Small Business Pulse Survey (SBPS), which was created in response to the Coronavirus pandemic.
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The SBPS demonstrated the Bureau’s ability to collect and publish high frequency and timely data during a national emergency with severe economic impacts. BTOS will capitalize on this success and expand the original survey’s (SBPS) scope of SBPS to include large single location employer businesses (500 or more employees).
The survey will collect and publish data products every two weeks along with measures of quality based on national representative samples. BTOS will provide information on a broad array of businesses by sector, state, and the 25 most populous Metropolitan Statistical Areas.
It will produce data continuously, responding to feedback from data users that longer SBPS time series would have been useful to contextualize pandemic impacts. The Bureau published a notice about the new survey seeking public comment in the Federal Register on Nov. 9, 2021.
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BTOS data will be representative of all single location employer businesses in the U.S. economy, excluding farms. Continuous data will allow for the measurement of economic trends during all phases of the business cycle as well as during economic and other emergencies.
It will shed light on the state of the economy prior to and during an event — including but not limited to natural disasters or economic crises. It will also assist in monitoring recovery from the event and in understanding large and small changes in economic trends throughout the business cycle.
The data will be valuable for elected and other government officials and policymakers, industry leaders, economic and social analysts, business entrepreneurs, news organizations and academics, among others.
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The Bureau will contact approximately 200, 000 businesses every two weeks and estimates that it will take the average respondent approximately 6 minutes to complete the survey, including the time for reviewing the instructions and answering. Selected businesses will receive the survey once every 12 weeks for a year.
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