Financial Accounts of the United States - Z.1
F.4.f Net fixed investment
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net fixed investment (by type) | FA885015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Structures | FA885019665 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equipment | FA885019265 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Intellectual Property Products | FA885013765 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Software | FA885013365 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Research and development | FA885013465 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Entertainment, literary, and artistic originals | FA835013565 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Miscellaneous adjustments1 | FA105013893 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Miscellaneous government adjustments2 | FA365015095 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Net fixed investment (by sector) | FA885015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Households and nonprofit organizations | FA155015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Nonfinancial corporate business | FA105015085 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Nonfinancial noncorporate business | FA115015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Federal government | FA315015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | State and local governments | FA215015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Domestic financial sectors3 | FA795015085 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Monetary authority | FA715013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Private depository institutions | FA705013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | U.S.-chartered depository institutions | FA765013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Foreign banking offices in U.S. | FA755013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Banks in U.S.-affiliated areas | FA745013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Credit unions | FA475013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Property-casualty insurance companies | FA515013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Life insurance companies | FA545013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Private pension funds | FA575013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | State and local government employee pension funds | FA225013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Government-sponsored enterprises | FA405013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | ABS issuers | FA675013263 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Finance companies | FA615013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Security brokers and dealers | FA665013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | Holding companies | FA735013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Memo: | |||||||||||
| Line 32 | Consumer durable goods4 | FA155111005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Included in nonfinancial corporate business sector gross fixed investment, line 11.
- Calculated as the difference between net fixed investment in BEA's NIPA and net fixed investment in BEA's fixed assets accounts (FAA); the latter are used to estimate.
- Domestic financial subsector detail are based on FRB staff estimates.
- Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector capital expenditures.
Last Update: March 9, 2026