GDP & growth · PNFI
Business investment
As of Q2 2026, the business investment had risen 9.6% from a year earlier, compared with a 12-month change of 8.2% in Q1 2026. The latest value was $4.74T.
Source: U.S. Bureau of Economic Analysis via FRED®. Quarterly data, seasonally adjusted. Latest observation Q2 2026; snapshot taken Oct 27, 2026, 2:15 AM EDT.
Latest (Q2 2026)
$4.74T
Change from Q1 2026
+3.0%
A year earlier
$4.32T
12-month change
+9.6%
$4.74T Q2 2026 · Billions of dollars
Billions of dollars. Data from Q1 1947 to Q2 2026 (318 observations).
What it measures
Private nonresidential fixed investment is what businesses spend on structures, equipment and intellectual property such as software and research, in current dollars.
- Official title
- Private Nonresidential Fixed Investment
- Units
- Billions of dollars
- Frequency and adjustment
- Quarterly, seasonally adjusted
- Original source
- U.S. Bureau of Economic Analysis
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| Date | Value | Change | From a year ago |
|---|---|---|---|
| Q2 2026 | $4.74T | +3.0% | +9.6% |
| Q1 2026 | $4.60T | +2.6% | +8.2% |
| Q4 2025 | $4.48T | +1.6% | +8.0% |
| Q3 2025 | $4.41T | +2.1% | +6.5% |
| Q2 2025 | $4.32T | +1.8% | +6.4% |
| Q1 2025 | $4.25T | +2.4% | +5.9% |
| Q4 2024 | $4.15T | +0.1% | +4.5% |
| Q3 2024 | $4.14T | +2.0% | +6.5% |
| Q2 2024 | $4.06T | +1.3% | +5.0% |
| Q1 2024 | $4.01T | +1.1% | +6.3% |
| Q4 2023 | $3.97T | +2.0% | +8.9% |
| Q3 2023 | $3.89T | +0.6% | +9.6% |
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This page shows public economic data for general information. It is not financial advice and does not predict future values.
Sources
- U.S. Bureau of Economic Analysis, Private Nonresidential Fixed Investment [PNFI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PNFI, Oct 27, 2026.
- View PNFI on FRED® · U.S. Bureau of Economic Analysis
FRED® is a registered trademark of the Federal Reserve Bank of St. Louis. Neither the Federal Reserve Bank of St. Louis nor U.S. Bureau of Economic Analysis endorses OpenEcon.