Growth Indicator
Business Fixed Investment (Quarterly Change)
Updated 2026-03-27 · Quarterly · Source: Bureau of Economic Analysis · Next release: 2026-06-26
Historical Trend
| Date | Value |
|---|---|
| 2026-Q1 | 3.8% |
| 2025-Q4 | 4.7% |
| 2025-Q3 | 4.0% |
| 2025-Q2 | 5.2% |
| 2025-Q1 | 7.8% |
| 2024-Q4 | 2.7% |
| 2024-Q3 | 3.9% |
| 2024-Q2 | 8.3% |
| 2024-Q1 | 4.4% |
What This Means for Business
Business investment grew at 3.8% annualized — positive but decelerating from 4.7% last quarter. AI-related capital expenditure (data centers, chips, software) is a bright spot, while traditional equipment investment is more muted. For executives, sustained investment growth signals corporate confidence, but the deceleration suggests some companies are becoming more cautious amid tariff uncertainty and tight financial conditions.
About Business Investment
Business fixed investment measures spending by businesses on structures (factories, offices), equipment, and intellectual property products (software, R&D). It reflects corporate confidence in future demand and is a key component of GDP.
Methodology
The BEA measures business fixed investment as part of the GDP accounts. It includes: nonresidential structures (commercial buildings, factories), equipment (machinery, vehicles, computers), and intellectual property products (software, R&D, entertainment originals). It excludes residential investment and inventory changes.
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Frequently Asked Questions
Is AI driving business investment higher?
Yes. Capital expenditure on AI infrastructure — including data centers, GPU clusters, and software — has been a significant driver of business investment since 2023. Major tech companies collectively spend $200+ billion annually on AI-related capex. This spending shows up in the 'equipment' and 'intellectual property' components of business fixed investment.