View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
0607-1022
ICR Reference No:
202408-0607-001
Status:
Historical Active
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
OIRA Conclusion Action:
Approved with change
Conclusion Date:
10/08/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/29/2024
Terms of Clearance:
No new Terms set for approval of "work-from-home" revision, October 2024. Maintain previous terms of Clearance.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2025
05/31/2025
05/31/2025
Responses
795,000
0
717,600
Time Burden (Hours)
132,500
0
131,160
Cost Burden (Dollars)
0
0
0
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.
Authorizing Statute(s):
US Code:
13 USC 131, 182
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
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
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
ICR Summary of Burden
Total Approved
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.
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
Agency Contact:
Kathy Bonney 301 763-4934
Common Form ICR:
No
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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