The U.S. Census Bureau has published updated Business Formation Statistics (BFS) covering September, October, and November 2025. The BFS provides current data on new business applications and formations across the United States and Puerto Rico.
This dataset is produced monthly by the Census Bureau in collaboration with economists from several institutions, including the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of Atlanta, the University of Maryland, and the University of Notre Dame.
According to the announcement, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico. The BFS are a standard data product of the Census Bureau, developed in research collaboration with economists affiliated with the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of Atlanta, the University of Maryland, and the University of Notre Dame.”
Each month, all 12 series—four application series and eight formation series—are released for national, regional, and state levels. Additionally, four monthly business application series are made available for Puerto Rico as part of this standard product. The statistics include both seasonally adjusted and non-seasonally adjusted figures.
There was no accompanying news release for this update; only a tip sheet was provided.
