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US investment in tech equipment and software
How much are US businesses spending on computers, communication gear and software, and what does business investment add to GDP growth?
The highest quarter in the series held, which starts in March 2005. Higher than every quarter of the five years before.
: the latest quarter published, by Bureau of Economic Analysis via FRED. Not a live figure.
Data last updated . Checked twice a day.
US investment in tech equipment and software, by quarter
US$ bn a year, seasonally adjusted annual rate, since March 2005. Not adjusted for inflation.
What business investment added to US growth
Real GDP growth each quarter, and the part of it that came from business spending on equipment and on intellectual property (software, research and development, and entertainment, literary and artistic originals), in percentage points at an annual rate. The BEA no longer publishes the part from information processing equipment and software on its own, so the table shows the broader lines it belongs to, and that line's own real growth.
| Quarter to | Real GDP growth, % | Real growth of information processing equipment and software, % | Contribution of all business equipment, pp | Contribution of intellectual property products (software, R&D, originals), pp | of which software, pp |
|---|---|---|---|---|---|
| Sep 2024 | +3.20 | +10.70 | +0.51 | +0.20 | +0.05 |
| Dec 2024 | +2.40 | +1.70 | −0.16 | +0.08 | +0.13 |
| Mar 2025 | +0.10 | +36.40 | +0.97 | +0.43 | +0.45 |
| Jun 2025 | +4.00 | +24.50 | +0.38 | +0.84 | +0.60 |
| Sep 2025 | +3.90 | +8.60 | +0.47 | +0.32 | +0.08 |
| Dec 2025 | +0.20 | +16.60 | +0.37 | +0.24 | +0.05 |
| Mar 2026 | +2.50 | +32.80 | +0.82 | +0.83 | +0.60 |
| Jun 2026 | +2.20 | +10.70 | +0.74 | +0.51 | +0.33 |
Year by year average, and the highest and lowest quarter, for the last 10 years
| Year | Average | Highest quarter | Lowest quarter |
|---|---|---|---|
| 2026 | 1,616.0 | 1,645.7 | 1,586.3 |
| 2025 | 1,404.0 | 1,495.0 | 1,320.1 |
| 2024 | 1,200.0 | 1,235.8 | 1,153.5 |
| 2023 | 1,118.6 | 1,142.8 | 1,107.2 |
| 2022 | 1,081.9 | 1,099.5 | 1,057.9 |
| 2021 | 976.5 | 1,017.4 | 945.8 |
| 2020 | 878.4 | 917.6 | 850.1 |
| 2019 | 852.7 | 857.4 | 842.3 |
| 2018 | 829.4 | 840.4 | 814.4 |
| 2017 | 768.9 | 796.0 | 741.3 |
Related
How this is measured
The Bureau of Economic Analysis's national accounts, private fixed investment by type, series A679RC1Q027SBEA via FRED, quarterly. The five-year position ranks the latest quarter against the 20 quarters before it.
Current dollars, not adjusted for inflation, at a seasonally adjusted annual rate: a quarter's spending multiplied by four, roughly. BEA revises recent quarters with each estimate and every summer.
Filed and published figures only: no company guidance, no forecasts. Source: Bureau of Economic Analysis via FRED. Every period of every series here: compute.csv.