The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for December 2025, offering updated insights into new business applications and formations across the United States and Puerto Rico.
According to the Census Bureau, the BFS provide regular information on business trends by releasing monthly data that covers both seasonally adjusted and non-seasonally adjusted statistics. The dataset includes 12 different series—four related to applications and eight related to formations—with detailed figures available at national, regional, and state levels. Additionally, four application series are specifically released each month for Puerto Rico.
The BFS are a standard product of the Census Bureau and were developed through research collaborations with economists from several institutions: “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.”
This release did not include an accompanying news release or analysis; it was distributed as a tip sheet only.
