Financial Accounts of the United States - Z.1
F.4.f Net Fixed Investment
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All domestic sectors; structures, equipment, and intellectual property products, current cost basis | FA885015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 1 |
| All domestic sectors; gross fixed investment, structures, current cost basis | FA885019665 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 2 |
| All domestic sectors; gross fixed investment, equipment, current cost basis | FA885019265 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 3 |
| All domestic sectors; nonresidential intellectual property products, current cost basis | FA885013765 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 4 |
| All domestic sectors; nonresidential software, current cost basis | FA885013365 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 5 |
| All domestic sectors; nonresidential research and development, current cost basis | FA885013465 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 6 |
| Private domestic sectors; nonresidential entertainment, literary, and artistic originals, current cost basis | FA835013565 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 7 |
| Nonfinancial corporate business; miscellaneous adjustments, adjustment to gross investment in nonresidential structures, equipment, and intellectual property products (1) | FA105013893 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 8 |
| General government; net fixed investment, structures, equipment, and intellectual property products (residual difference between NIPA and fixed asset accounts) (2) | FA365015095 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 9 |
| All domestic sectors; structures, equipment, and intellectual property products, current cost basis | FA885015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 10 |
| Households and nonprofit organizations; structures, equipment, and intellectual property products, current cost basis (NIPA basis) | FA155015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 11 |
| Nonfinancial corporate business; structures, equipment, and intellectual property products, current cost basis (includes used car premium and REITs residential structures) | FA105015085 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 12 |
| Nonfinancial noncorporate business; structures, equipment, and intellectual property products, current cost basis (NIPA basis) | FA115015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 13 |
| Federal government; nonfinancial assets (does not include land) | FA315015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 14 |
| State and local governments; net fixed investment (NIPA basis) | FA215015005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 15 |
| Domestic financial sectors; capital formation, net (IMA) (3) | FA795015085 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 16 |
| Monetary authority; nonresidential structures, equipment, and intellectual property products, current cost basis | FA715013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 17 |
| Private depository institutions; nonresidential structures, equipment, and intellectual property products, current cost basis | FA705013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 18 |
| U.S.-chartered depository institutions; nonresidential structures, equipment, and intellectual property products, current cost basis | FA765013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 19 |
| Foreign banking offices in the U.S.; nonresidential structures, equipment, and intellectual property products, current cost basis | FA755013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 20 |
| Banks in U.S.-affiliated areas; nonresidential structures, equipment, and intellectual property products, current cost basis | FA745013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 21 |
| Credit unions; nonresidential structures, equipment, and intellectual property products, current cost basis | FA475013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 22 |
| Property-casualty insurance companies; nonresidential structures, equipment, and intellectual property products, current cost basis | FA515013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 23 |
| Life insurance companies; nonresidential structures, equipment, and intellectual property products, current cost basis | FA545013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 24 |
| Private pension funds; nonresidential structures, equipment, and intellectual property products, current cost basis | FA575013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 25 |
| State and local government employee retirement funds; nonresidential structures, equipment, and intellectual property products, current cost basis | FA225013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 26 |
| Government-sponsored enterprises; nonresidential structures, equipment, and intellectual property products, current cost basis | FA405013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 27 |
| Issuers of asset-backed securities; consumer leases | FA675013263 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 28 |
| Finance companies; nonresidential structures, equipment, and intellectual property products excluding securitized equipment, current cost basis | FA615013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 29 |
| Security brokers and dealers; nonresidential structures, equipment, and intellectual property products, current cost basis | FA665013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 30 |
| Holding companies; nonresidential structures, equipment, and intellectual property products, current cost basis | FA735013865 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 31 |
| Households and nonprofit organizations; consumer durable goods, current cost basis (4) | FA155111005 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 32 |
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: February 23, 2024