The U.S. Census Bureau has published updated Business Formation Statistics (BFS) covering September, October, and November 2025. The BFS tracks new business applications and formations across the United States and Puerto Rico, providing monthly data at the national, regional, and state levels.
This dataset is produced by the Census Bureau in collaboration with economists from 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. According to the agency, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico.” The release includes both seasonally adjusted and unadjusted figures.
For Puerto Rico specifically, four monthly business application series are part of this standard product. The complete BFS dataset consists of twelve series—four related to applications and eight concerning actual business formations.
There was no separate news release issued for this announcement; only a tip sheet was provided.
