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Annual Capital Expenditures: 2014

Summary of Findings

General highlights

In 2014, U.S. nonfarm businesses invested $1,602.1 billion in new and used structures and equipment, an increase of 7.4 percent over the revised 2013 total of $1,491.3 billion (See Summary Table A below, and Tables 1a and 1b).  Total spending on new structures and new equipment was $1,508.4 billion, an increase of 7.3 percent over the revised 2013 total of $1,405.4 billion.

Expenditures in 2014 for new and used structures totaled $636.2 billion (See Figure 1).  Of this amount, $599.1 billion (94.2 percent) was spent for new structures.  Expenditures for used structures totaled $37.1 billion.

Spending on new and used equipment totaled $965.9 billion in 2014, up $56.4 billion (6.2 percent) from 2013.  Of this amount, $909.3 billion (94.1 percent) was for new equipment, an increase of $53.3 billion (6.2 percent) from 2013.  Expenditures for used equipment totaled $56.5 billion.

Summary Table A. Capital Expenditures and Relative Standard Errors (RSE) for New and Used Structures and Equipment: 2014 and 2013 Revised
(Billions of current dollars)

Capital Expenditures

2014

2014 RSE

2013

2013 RSE

Difference

% Change

Total

1,602.1

0.9

1,491.3

0.9

110.8

7.4


New

1,508.4

0.8

1,405.4

0.9

103.0

7.3


Used

93.7

5.0

85.9

5.5

7.7

9.0

 NS

Structures

636.2

2.2

581.8

1.3

54.4

9.3


New

599.1

2.0

549.4

1.3

49.7

9.0


Used

37.1

9.1

32.5

7.4

4.7

14.3

 NS

Equipment

965.9

0.6

909.5

1.2

56.4

6.2


New

909.3

0.6

856.0

1.1

53.3

6.2


Used

56.5

3.5

53.5

5.8

3.1

5.7

 NS

Source: U.S. Census Bureau, 2014 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.

The Annual Capital Expenditures Survey collects data from companies with and without employees. Companies with employees accounted for $1,510.8 billion (94.3 percent) of total capital spending in 2014. These companies invested $601.3 billion in structures. Expenditures on equipment totaled $909.5 billion, up $54.7 billion (6.4 percent) from 2013 (See Figure 2).

Companies without employees accounted for $91.3 billion (5.7 percent) of capital spending in 2014, with $34.9 billion spent on structures and $56.4 billion spent on equipment (See Summary Table B below).

Summary Table B. Capital Expenditures and Relative Standard Errors (RSE) for Structures and Equipment: 2014 and 2013 Revised
(Billions of current dollars)

Capital Expenditures

2014

2014 RSE

2013

2013 RSE

Difference

% Change

Total

1,602.1

0.9

1,491.3

0.9

110.8

7.4


Companies with employees

1,510.8

0.9

1,400.9

0.9

109.9

7.8


Companies without employees

91.3

5.3

90.4

12.1

0.8

0.9 

 NS

Structures

636.2

2.2

581.8

1.3

54.4

9.3


Companies with employees

601.3

2.3

546.1

1.5

55.2

10.1


Companies without employees

34.9

7.9

35.8

10.1

-0.9

-2.5

 NS

Equipment

965.9

0.6

909.5

1.2

56.4

6.2


Companies with employees

909.5

0.5

854.8

0.8

54.7

6.4


Companies without employees

56.4

5.3

54.7

19.1

1.7

3.2

 NS

Source: U.S. Census Bureau, 2014 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 2007 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, 9 had a statistically significant increase in capital spending in 2014 compared with 2013, 2 had a statistically significant decrease, and 8 showed no statistically significant change.  The 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).

Of the 132 industries covered in this report, 41 had a statistically significant increase in spending, 15 had a statistically significant decrease, and 76 showed no statistically significant change from the prior year. 

Manufacturing

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Manufacturing

230.9

221.3

4.3%

 NS

Structures

50.3

46.6

8.0%

 NS

Equipment

180.6

174.8

3.4%

 NS

Durable Goods Industries

125.0

121.5

2.9%

 NS

Structures

19.5

20.3

-4.0%

 NS

Equipment

105.5

101.2

4.3%

 NS

Nondurable Goods Industries

105.9

99.9

6.1%


Structures

30.8

26.3

17.3%


Equipment

75.1

73.6

2.1%

 NS

Source: U.S. Census Bureau, 2014 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.


Mining

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Mining

228.7

202.2

13.1%


Structures

178.6

152.4

17.2%


Equipment

50.1

49.8

0.6%

 NS

Source: U.S. Census Bureau, 2014 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.


Finance and Insurance

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Finance and Insurance

153.4

137.8

11.3%


Structures

18.2

15.5

17.6%


Equipment

135.2

122.4

10.5%


Source: U.S. Census Bureau, 2014 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.


Information

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Information

131.3

123.9

6.0%


Structures

33.3

33.3

-0.1%

 NS

Equipment

98.1

90.6

8.3%


Source: U.S. Census Bureau, 2014 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.


Real Estate and Rental and Leasing

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Real Estate and Rental and Leasing

121.2

114.2

6.1%

 NS

Structures

44.8

39.4

13.9%

 NS

Equipment

76.3

74.8

2.0%

 NS

Source: U.S. Census Bureau, 2014 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.


Utilities

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Utilities

120.2

111.3

8.0%


Structures

63.8

58.1

10.0%


Equipment

56.4

53.3

5.9%


Source: U.S. Census Bureau, 2014 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.


Transportation and Warehousing

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Transportation and Warehousing

109.3

92.6

18.1%


Structures

40.5

37.6

7.7%


Equipment

68.8

55.0

25.2%


Source: U.S. Census Bureau, 2014 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.


Health Care and Social Assistance

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Health Care and Social Assistance

88.9

94.2

-5.7%


Structures

47.2

49.4

-4.4%

 NS

Equipment

41.7

44.8

-7.0%


Source: U.S. Census Bureau, 2014 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.


Retail Trade

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Retail Trade

82.7

77.5

6.6%


Structures

35.6

33.9

5.2%

 NS

Equipment

47.0

43.7

7.7%


Source: U.S. Census Bureau, 2014 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.


Wholesale Trade

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Wholesale Trade

44.8

37.5

19.5%


Structures

12.3

9.7

27.1%

 NS

Equipment

32.6

27.8

16.9%

 NS

Source: U.S. Census Bureau, 2014 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.


Accommodation and food services

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Accomodation and food services

36.1

34.5

4.5%

 NS

Structures

14.7

16.3

-9.6%

 NS

Equipment

21.3

18.2

17.1%

 NS

Source: U.S. Census Bureau, 2014 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.


Professional, scientific, and technical services

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Professional, scientific, and technical services

31.2

35.7

-12.5%


Structures

7.4 8.6

-14.1%


Equipment

23.8 27.1

-12.0%


Source: U.S. Census Bureau, 2014 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.


Construction

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Construction

30.3

27.6

9.8%

 NS

Structures

3.8 2.5

49.9%

 NS

Equipment

26.5 25.0

5.8%

 NS

Source: U.S. Census Bureau, 2014 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.


Educational services

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Educational services

25.8    

22.6

14.2%


Structures

19.7 16.6

18.9%


Equipment

6.1 6.0

1.3%

 NS

Source: U.S. Census Bureau, 2014 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 waste and management

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Administrative and support waste and management

22.5

21.8

3.3%

 NS

Structures

4.1 4.1

-1.2%

 NS

Equipment

18.4 17.6

4.3%

 NS

Source: U.S. Census Bureau, 2014 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.


Other Services (except public administration)

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Other Services (except public administration)

20.3

18.6

9.2%

 NS

Structures

11.0 11.0

0.0%

 NS

Equipment

9.3 7.6

22.5%


Source: U.S. Census Bureau, 2014 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.


Arts, Entertainment, and Recreation

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Arts, Entertainment, and Recreation

20.4

15.0

36.3%


Structures

12.8 8.3

55.5%


Equipment

7.6 6.7

12.6%

 NS

Source: U.S. Census Bureau, 2014 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.


Management of companies and enterprises

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Management of companies and enterprises

5.5

6.1

-10.8%

 NS

Structures

1.2 1.6

-21.1%


Equipment

4.2 4.6

-7.2%

 NS

Source: U.S. Census Bureau, 2014 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

Capital Expenditures for Structures and Equipment for Companies with Employees: 2014 and 2013 Revised

(Billions of current dollars)

Capital expenditures

2014

2013

% Change

Total Forestry, fishing, and agricultural services

3.9

3.0

33.2%

 NS

Structures

1.0 0.5

95.2%

 NS

Equipment

3.0 2.5

20.9%

 NS

Source: U.S. Census Bureau, 2014 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.


Data User Notice posted July 25, 2016: Census Bureau staff identified a processing error that affects selected relative standard errors from the Annual Capital Expenditures Survey (ACES). As a result, we have corrected the values in table 1c and 1d of the 2014 ACES publication. This processing error did not affect other tables in these publications.

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