The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for September, October, and November 2025. The BFS provides updated information on new business applications and formations across the United States and Puerto Rico.
According to the Census Bureau, the BFS is a standard data product developed 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.
The monthly release includes all 12 series—four application series and eight formation series—with statistics available at national, regional, and state levels. For Puerto Rico, four monthly business application series are included as part of the regular BFS product. The dataset features both seasonally adjusted and not seasonally adjusted data.
There was no news release associated with this announcement; it was distributed as a tip sheet only.
