The BTOS data is a vital tool for understanding the state of the U.S. economy, excluding farms. It provides timely and detailed data for key economic measures every two weeks, including geographical and subsector levels, allowing for a comprehensive understanding of events such as natural disasters and economic crises, as well as 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. On average, it takes respondents about nine minutes to complete the survey, including time for reading 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 essential 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.