The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for December 2025, offering updated data on new business applications and formations across the United States and Puerto Rico. The BFS is a regular product from the Census Bureau, created in partnership 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 announcement, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico. The BFS are a standard data product of the Census Bureau, developed in research collaboration with economists affiliated with 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.”
Each month, all 12 series—four related to applications and eight to formations—are made available for national, regional, and state levels. For Puerto Rico specifically, four monthly business application series are included as part of this release. The dataset features both seasonally adjusted and unadjusted figures.
No additional news release was issued alongside this update; only a tip sheet was provided.
