[Economic Indicators January, 2004]
[Page Number 9]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
REAL GROSS PRIVATE DOMESTIC INVESTMENT

In the fourth quarter of 2003, according to advance estimates, 
nonresidential fixed investment in chained (2000) dollars rose $19.2 
billion (annual rate) and residential investment rose $13.1 billion. 
There was an increase of $6.1 billion in inventories following a 
decrease of $9.1 billion in the third quarter.
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                                [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates]
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                                                                                           Fixed investment                          Change in private
                                                                    -------------------------------------------------------------       inventories
                                                            Gross                          Nonresidential                        -----------------------
                         Period                            private              ------------------------------------
                                                          domestic      Total                             Equipment  Residential
                                                         investment                 Total    Structures      and                     Total      Nonfarm
                                                                                                          software
--------------------------------------------------------------------------------------------------------------------------------------------------------
1994 ..................................................     1,099.6     1,042.3       689.9       232.3       467.2        364.8        63.6        52.0
1995 ..................................................     1,134.0     1,109.6       762.5       247.1      c523.1        353.1        29.9        41.3
1996 ..................................................     1,234.3     1,209.2       833.6       261.1       578.7        381.3        28.7        21.7
1997 ..................................................     1,387.7     1,320.6       934.2       280.1       658.3        388.6        71.2        68.5
1998 ..................................................     1,524.1     1,455.0     1,037.8       294.5       745.6        418.3        72.6        71.2
1999 ..................................................     1,642.6     1,576.3     1,133.3       293.2       840.2        443.6        68.9        71.5
2000 ..................................................     1,735.5     1,679.0     1,232.1       313.2       918.9        446.9        56.5        57.8
2001 ..................................................     1,590.6     1,625.7     1,176.8       305.2       871.3        448.5       -36.0       -36.3
2002 ..................................................     1,572.0     1,565.8     1,092.6       249.0       846.7        470.3         5.7         9.3
2003 p.................................................     1,635.7     1,633.5     1,122.8       237.2       891.0        506.1        -1.5          .4
 
2000:I ................................................     1,678.0     1,651.1     1,196.7       299.9       896.7        454.5        26.9        41.5
      II ..............................................     1,788.6     1,689.1     1,238.6       312.5       926.0        450.4        99.3        93.2
      III .............................................     1,742.6     1,686.4     1,245.2       319.7       925.5        441.2        56.2        58.8
      IV ..............................................     1,732.7     1,689.4     1,247.9       320.6       927.3        441.6        43.5        37.8
 
2001:I.................................................     1,682.2     1,677.8     1,233.6       315.8       917.8        444.4         4.3        -2.1
      II ..............................................     1,608.5     1,638.0     1,189.4       311.3       877.6        448.5       -28.8       -27.0
      III .............................................     1,573.1     1,616.1     1,163.7       313.1       849.4        451.9       -44.0       -45.8
      IV ..............................................     1,498.4     1,570.7     1,120.6       280.8       840.5        449.0       -75.5       -70.3
 
2002:I.................................................     1,538.2     1,560.9     1,100.4       262.2       840.0        458.5       -23.5       -28.6
      II ..............................................     1,555.8     1,563.2     1,092.1       252.2       842.6        468.4        -8.0         4.2
      III .............................................     1,598.2     1,565.4     1,089.1       242.4       850.3        473.2        32.8        36.0
      IV ..............................................     1,595.8     1,573.5     1,088.9       239.0       853.9        481.0        21.5        25.4
 
2003:I ................................................     1,581.6     1,577.7     1,087.3       236.5       855.0        486.4         1.6          .3
      II ..............................................     1,599.9     1,601.4     1,105.8       238.8       871.6        491.7        -4.5        -2.4
      III .............................................     1,656.1     1,661.0     1,139.5       237.7       907.7        516.7        -9.1        -5.9
      IV p.............................................     1,705.3     1,693.9     1,158.7       235.9       929.6        529.8         6.1         9.7
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    Note.--See p. 10 for further 
detail on fixed investment by type.
    Because of the formula used for 
calculating real GDP, the chained 
(2000) dollar estimates for the 
detailed components do not add to 
the chained-dollar value of GDP or 
to any intermediate aggregates.

    Source: Department of Commerce, 
Bureau of Economic Analysis.