The BTOS data is an essential tool for understanding the state of the U.S. economy, excluding farms. It offers valuable insights into key economic measures every two weeks, providing a thorough understanding of events such as natural disasters and economic crises, and monitoring recovery efforts.
The BTOS sample consists of approximately 1.2 million businesses that are surveyed biweekly. These businesses are divided into six panels, each consisting of around 200,000 cases. Businesses in these panels are asked to report every 12 weeks for a year. It is estimated that the average respondent takes about nine minutes to complete the survey, including time for reading the instructions and providing answers.
The data collected through BTOS will be released biweekly and will be available by sector, state, and the 25 most populous metropolitan statistical areas. This information is crucial for local, state, and federal officials as it provides real-time data for policymaking and decision-making. Additionally, businesses can utilize this data to make informed economic decisions.