FedScoop: Census Bureau seeks ‘economic indicator’ status for experimental data product

“The Census Bureau is pursuing an “economic indicator” designation for its Business Formation Statistics (BFS), in what would be a win for the agency’s experimental data products concept.

In an effort to provide more timely, relevant data, the bureau introduced its experimental data products in 2019. These products are created using new data sources and methods to fill gaps in the bureau’s understanding of the evolving U.S. economy.”

“One such product is the BFS, a series of quarterly business applications, formations and projections measures begun in July as a Center for Economic Studies collaboration with the Board of Governors of the Federal Reserve System, Federal Reserve Bank of Atlanta, University of Maryland, and University of Notre Dame.”

“Before the BFS was created, there was a two-year lag in the previous measure used to monitor U.S. and…” Read the full article here.

Source: Census Bureau seeks ‘economic indicator’ status for experimental data product – By Dave Nyczepir, March 19, 2020. FedScoop.

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