Bureau of Labor Statistics

Fixed capital investment, which excludes changes in inventories, comprises business investment in equipment and intellectual property, such as research and development, government investment and housing. In total, as I show in chart one, there has been a slight pick up since the trough of 2010 but, as a percentage of gross domestic product, it is still lower than it has been in any year between 1948 and 2008. This is the case for business investment in plant and equipment as well as for investment in total.

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