Business Trends and Outlook Survey

ICR 202408-0607-001

OMB: 0607-1022

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
251680 Modified
ICR Details
0607-1022 202408-0607-001
Received in OIRA 202406-0607-009
DOC/CENSUS
Business Trends and Outlook Survey
Revision of a currently approved collection   No
Regular 08/29/2024
  Requested Previously Approved
05/31/2025 05/31/2025
795,000 717,600
132,500 131,160
0 0

The Business Trends and Outlook Survey (BTOS) will be a new experimental survey with bi-weekly data collection and publication. This continuous near real time data publication will provide a baseline of the U.S. economy and will measure change as a result of current and future economic shocks. The ongoing nature of the BTOS is in response to stakeholder feedback on the Small Business Pulse Survey (SBPS), which was that economic baseline or ‘norms’ data would have been helpful to have in comparison to the SBPS data on pandemic impact.

US Code: 13 USC 131, 182
  
None

Not associated with rulemaking

  86 FR 62150 11/09/2021
89 FR 70165 08/29/2024
No

1
IC Title Form No. Form Name
Business Trends and Outlook Survey BTOS WFH Question, Draft Supplemental Content, Draft Core Content Draft Core Content ,   Draft Supplemental Content ,   BTOS WFH Question

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 795,000 717,600 0 77,400 0 0
Annual Time Burden (Hours) 132,500 131,160 0 1,340 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The previously submitted estimate indicated a max time per response of 9 minutes, resulting in an annual burden estimate of 131,160 hours. With this submission we are increasing the annual burden estimate to 10 minutes based on cognitive testing completed during summer of 2024. Respondents indicated they sometimes consult other staff members to gain insights to respond to the BTOS questions. Additionally, the supplemental questions to be asked in cycle 2 are estimated to impose an average of 10 minutes of burden, whereas the previous supplement required only 8 minutes.

$2,230,000
Yes Part B of Supporting Statement
    No
    No
No
No
No
No
Kathy Bonney 301 763-4934

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
08/29/2024


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