Business Trends and Outlook Survey

Forms and Documents

Document Name	Status
Form Draft Core Content Business Trends and Outlook Survey Form	Modified
BTOS_30dayFRN_published_082924.pdf Supplementary Document	2024-08-29
BTOS Attachment D.docx Supplementary Document	2023-07-21
Business Trends and Outlook Survey_Supporting Statement B 8.21.2024.docx Supporting Statement B	2024-08-22
Title 13 Relevant Sections.docx Supplementary Document	2022-02-18
Business Trends and Outlook Survey Supporting Statement A_8.21.2024.docx Supporting Statement A	2024-08-23

IC Document Collections

IC ID	Document Title	Status
251680	Business Trends and Outlook Survey Form	Modified

ICR Details

OMB Control No: 0607-1022	ICR Reference No: 202408-0607-001
Status: Received in OIRA	Previous ICR Reference No: 202406-0607-009
Agency/Subagency: DOC/CENSUS	Agency Tracking No:
Title: Business Trends and Outlook Survey
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/29/2024

	Requested	Previously Approved
Expiration Date	05/31/2025	05/31/2025
Responses	795,000	717,600
Time Burden (Hours)	132,500	131,160
Cost Burden (Dollars)	0	0

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Abstract: 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.

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Authorizing Statute(s): US Code: 13 USC 131, 182
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 62150	11/09/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 70165	08/29/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 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

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ICR Summary of Burden

	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

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: 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.

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Annual Cost to Federal Government: $2,230,000

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 08/29/2024

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