The U.S. is experiencing a capital spending boom, led by investment in information processing equipment, primarily computers. Business fixed investment has risen from 9% of GDP in 1991 to 11% thus far this year. The expansion is particularly welcome after the torpid pace of capital accumulation in the 1980s.
Suggested citation: “Growth Accounting,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-08, pp. 11, 08.01.1996.