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Annual Capital Expenditures Survey

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SUMMARY OF FINDINGS


General highlights

In 2011, U.S. nonfarm businesses invested $1,225.6 billion in new and used structures and equipment, an increase of 10.8 percent over the 2010 total of $1,105.7 billion.1,2 (See Summary Table A below, and Tables1a and 1b.) Total spending on new structures and new equipment was $1,155.0 billion, and increase of 11.7 percent over the revised 2010 total of $1,033.8 billion.

Summary Table A. Capital Expenditures for New and Used Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 Difference % Change
Total 1,225.6  1,105.7  119.9  10.8
    New 1,155.0  1,033.8  121.3  11.7
    Used 70.5  71.9  -1.4                    -1.9 NS
Structures 454.7  429.6  25.1  5.8
    New 425.1  395.4  29.7  7.5
    Used 29.6  34.2  -4.6                  -13.5 NS
Equipment 770.9  676.1  94.8  14.0
    New 729.9  638.3  91.6  14.3
    Used 41.0  37.8  3.2                      8.5 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.

Expenditures in 2011 for new and used structures totaled $454.7 billion, an increase of $25.1 billion (5.8 percent) from 2010. (See Figure 1.) Of this amount, $425.1 billion (93.5 percent) was spent for new structures, up $29.7 billion (7.5 percent) from 2010. Expenditures for used structures totaled $29.6 billion, which was not statistically different from 2010.

Spending on new and used equipment totaled $770.9 billion in 2011, up $94.8 billion (14.0 percent) from 2010. Of this amount, $729.9 billion (94.7 percent) was for new equipment, an increase of $91.6 billion (14.3 percent) from 2010. Expenditures for used equipment totaled $41.0 billion, an increase of $3.2 billion (8.5 percent) from 2010.

The Annual Capital Expenditures Survey collects data from companies with and without employees. Companies with employees accounted for $1,152.2 billion (94.0 percent) of total capital spending in 2011. These companies invested $423.8 billion in structures, an increase of $27.4 billion (6.9 percent) from 2010, and $728.4 billion in equipment, up $88.7 billion (13.9 percent) from 2010. (See Figure 2.)

Companies without employees accounted for $73.4 billion of capital spending in 2011, with $30.9 billion spent on structures and $42.5 billion spent on equipment.(See Summary Table B below.)

Summary Table B. Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 Difference % Change
Total 1,225.6  1,105.7  119.9  10.8
    Companies with employees 1,152.2  1,036.2  116.1  11.2
    Companies without employees 73.4  69.5  3.8                5.5 NS
Structures 454.7  429.6  25.1  5.8
    Companies with employees 423.8  396.4  27.4  6.9
    Companies without employees 30.9  33.2  -2.3                -6.9 NS
Equipment 770.9  676.1  94.8  14.0
    Companies with employees 728.4  639.8  88.7  13.9
    Companies without employees 42.5  36.4  6.1                16.8
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.

Highlights by business sector for companies with employees (See Tables 2, 3, and 4)

(Data in this section are based on the 2012 North American Industry Classification System. Data are only for companies with employees because companies without employees are not asked to report capital expenditures by sector or industry.)

Of the 19 NAICS major industry sectors covered in this report, 7 had a statistically significant increase in capital spending in 2011 compared with 2010, 1 had a statistically significant decrease, and 11 showed no statistically significant change. The sector-level values of structures and equipment may not sum to the values of total capital expenditures due to rounding. (See Summary Chart A below, Figure 3, and Figure 4.)

forestry management_of_companies arts administrative other_services construction education accommodation_services professional_services wholesale_trade transportation retail_trade health_care real_estate utilities information finance mining manufacturing

Of the 132 industries covered in this report, 48 had a statistically significant increase in spending in 2011 compared with 2010; 17 had a statistically significant decrease; and 67 showed no statistically significant change.



Manufacturing

[PDF, 243KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Manufacturing 193.4  160.8  20.3
    Structures 36.6  31.2  17.5
    Equipment 156.8  129.6  20.9
Durable Goods Industries 110.8  86.6  28.0
    Structures 17.7  14.1  25.2
    Equipment 93.2  72.5  28.6
Nondurable Goods Industries 82.5  74.2  11.2
    Structures 19.0  17.1  11.0
    Equipment 63.6  57.2  11.2
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Mining

[PDF, 90KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Mining 149.5  115.7  29.2
    Structures 108.3  85.2  27.1
    Equipment 41.2  30.5  35.0
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Finance and Insurance

[PDF, 98KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Finance and Insurance 109.6  103.1  6.3
    Structures 14.5  16.2  -10.6
    Equipment 95.1  86.9  9.4
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Information

[PDF, 106KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Information 99.7  97.2                                      2.6 NS
    Structures 20.3  21.8  -6.8
    Equipment 79.4  75.4    5.3
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Utilities

[PDF, 77KB]



Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Utilities 98.0  94.5  3.8 NS
    Structures 46.7  43.9  6.5 NS
    Equipment 51.3  50.6  1.5 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Real estate and rental and leasing

[PDF, 90KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Real Estate and Rental and Leasing 91.1  81.3        12.1 NS
    Structures 33.5  32.4          3.6 NS
    Equipment 57.6  48.9  17.7
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Health care and social assistance

[PDF, 105KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Health Care and Social Assistance 83.2  78.4        6.1 NS
    Structures 42.9  42.9        0.2 NS
    Equipment 40.2  35.5  13.2
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Transportation and warehousing

[PDF, 108KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Transportation and Warehousing 72.3  59.0  22.6
    Structures 28.2  23.4  20.5
    Equipment 44.1  35.6  23.9
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Retail trade

[PDF, 90KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Retail Trade 67.4  65.3        3.4 NS
    Structures 27.0  29.2  -7.3
    Equipment 40.4  36.1  12.0
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Wholesale Trade

[PDF, 82KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Wholesale Trade 35.5  31.1  14.1 NS
    Structures 7.9  6.9  14.9 NS
    Equipment 27.6  24.2  13.9 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Professional, Scientific, and Technical Services

[PDF, 107KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Professional, Scientific, and Technical Services 28.2  28.2  -0.1 NS
    Structures 6.6  5.7  14.8 NS
    Equipment 21.6  22.5  -3.9 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Accommodation Services

[PDF, 79KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Accommodation and Food Services 24.8  19.9  24.8
    Structures 12.0  9.8        23.2 NS
    Equipment 12.8  10.2  26.2
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Construction

[PDF, 80KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Construction 21.8  17.9  22.0
    Structures 2.9  2.6          8.9 NS
    Equipment 18.9  15.2  24.2
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Educational Services

[PDF, 48KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Educational Services 21.0  23.4        -10.1 NS
    Structures 15.0  17.7  -14.9
    Equipment   6.0    5.7            5.0 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.



Administrative and Support and Waste Management

[PDF, 94KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Administrative and Support and Waste Management 18.4  16.9  9.2
    Structures   3.5    3.6      -0.4 NS
    Equipment 14.9  13.3  11.8
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Other Services(except public administration)

[PDF, 88KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Other Services (except public administration) 16.1  21.0  -23.3
    Structures   8.7  13.6  -36.3
    Equipment   7.4    7.3            0.6 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Arts, entertainment, and recreation

[PDF, 81KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Arts, Entertainment, and Recreation 11.3  12.1          -7.0 NS
    Structures   6.5    7.7        -15.5 NS
    Equipment   4.8    4.4          7.9 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
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Management of Companies and Enterprises

[PDF, 49KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Management of Companies and Enterprises 5.2  4.9        4.9 NS
    Structures 1.4  1.6      -12.8 NS
    Equipment 3.8  3.4  13.1
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.



Forestry, Fishing, and Agricultural Services

[PDF, 48KB]

Capital Expenditures for Structures and Equipment: 2011 and 2010 Revised
(Billions of current dollars)
Capital Expenditures 2011 2010 % Change
Total Forestry, Fishing, and Agricultural Services 3.1  3.3    -5.9 NS
    Structures .5  .7  -22.1 NS
    Equipment 2.5  2.6    -1.6 NS
Source: U.S. Census Bureau, 2011 Annual Capital Expenditures Survey
Note: Detail may not add to total because of rounding.
NS: Not Statistically Significant

See the "Reliability of the Estimates" Section of Sampling and Estimation Methodologies for information on sampling variability, confidence intervals and statistical significance.
1 The 2009 estimate of $1090.7 billion presented in this year's report reflects a $0.6 billion upward revision in the amount reported in last year's report. The present report compares business investment in 2010 and 2009. For an assessment of investment spending patterns over a longer period, see 2011 Spending Report: U.S. Capital Spending Patterns-2000-2009 at: http://www.census.gov/econ/aces/report/2011/capitalspendingreport2011.pdf
2 Estimated measures of sampling variability have been calculated for each estimate and are used to construct 90-percent confidence intervals (or ranges) for all estimates of change. If the estimated range of change contains zero (0), then it is uncertain whether there was an increase or a decrease; that is, the change is not statistically different from zero (0), and the current estimate is not statistically different from the prior estimate at the 90-percent confidence level. See the "Reliability of the Estimates"; Section of Sampling and Estimation Methodologies for more information on confidence intervals and statistical significance.


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Source: U.S. Census Bureau | Annual Capital Expenditures | (301) 763-3324 |  Last Revised: April 24, 2013