Investment (annual variation in %)
Investment typically refers to gross fixed investment or, more precisely, gross fixed capital formation (GFCF). Gross fixed capital formation is a macroeconomic aggregate used in national accounting that measures the value of acquisitions of new or existing fixed assets with a life span of more than one year by the business sector (national accounting generally considers personal spending and most government spending as consumption).
Gross fixed capital formation includes spending on factories, machinery, equipment, buildings (including private residential dwellings) and infrastructure. Investment is called “gross” because it does not consider the consumption of fixed assets (depreciation); the term “fixed” is used because inventories (stocks) are not included; and the term “capital formation” is used because financial investments are not included.
The investment component of Gross Domestic Product (GDP) is much more cyclical than consumption. When businesses expect economic growth to be strong, they are more likely to invest. The level of capacity utilization and interest rates also determine investment decisions.
The table below shows the percent changes in gross fixed investment for the last five years.
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Investment Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Albania | -4.5 | 3.8 | 2.5 | 5.5 | 2.9 |
| Algeria | 6.4 | 5.7 | 3.5 | 3.4 | 3.1 |
| Angola | 3.5 | -1.9 | -19.5 | 3.0 | 9.1 |
| Argentina | -6.8 | 3.5 | -5.8 | 12.2 | -5.7 |
| Armenia | -2.2 | 2.5 | -11.4 | 9.7 | 4.5 |
| Australia | -1.9 | -4.0 | -2.3 | 3.5 | 2.4 |
| Austria | -0.4 | 2.3 | 4.1 | 4.0 | 3.9 |
| Bahrain | 5.9 | -8.5 | 10.8 | 11.0 | 4.7 |
| Belarus | -5.7 | -15.5 | -14.5 | 5.5 | 4.4 |
| Belgium | 5.8 | 3.7 | 3.8 | 1.3 | 4.0 |
| Bolivia | 9.9 | 5.0 | 3.4 | 11.8 | 3.2 |
| Bosnia and Herzegovina | 11.5 | -3.5 | 2.5 | 5.8 | 9.2 |
| Brazil | -4.2 | -13.9 | -12.1 | -2.6 | 3.9 |
| Bulgaria | 3.4 | 2.7 | -6.6 | 3.2 | 5.4 |
| Canada | 1.5 | -4.3 | -4.0 | 4.0 | 1.8 |
| Chile | -4.8 | -0.3 | -1.3 | -2.7 | 4.7 |
| China | 7.4 | 7.0 | 6.8 | 5.2 | 4.9 |
| Colombia | 9.9 | 2.8 | -2.9 | 1.9 | 1.6 |
| Costa Rica | 3.3 | 3.0 | 4.8 | -2.5 | 3.0 |
| Croatia | -2.8 | 3.8 | 6.5 | 5.1 | 4.1 |
| Cyprus | -19.0 | -0.2 | 48.9 | 24.1 | -6.6 |
| Czech Republic | 3.9 | 10.3 | -3.2 | 4.0 | 7.5 |
| Denmark | 3.1 | 5.5 | 7.9 | 3.0 | 5.4 |
| Dominican Republic | 9.3 | 18.9 | 12.3 | -0.3 | 13.3 |
| Ecuador | 2.3 | -6.2 | -8.9 | 5.3 | 2.0 |
| Egypt | - | - | - | - | - |
| El Salvador | -9.6 | 9.0 | 3.6 | 2.9 | 6.8 |
| Estonia | -2.6 | -3.2 | 0.8 | 12.5 | 1.7 |
| Eurozone | 1.7 | 4.5 | 4.0 | 3.7 | 2.4 |
| Finland | -2.6 | 0.5 | 8.8 | 4.0 | 3.2 |
| France | 0.0 | 0.9 | 2.5 | 5.0 | 2.8 |
| Germany | 3.9 | 1.8 | 3.8 | 2.5 | 3.5 |
| Ghana | -1.1 | -2.7 | 12.2 | -1.8 | -5.0 |
| Greece | -4.6 | 0.6 | 4.6 | 9.4 | -12.0 |
| Guatemala | 4.4 | -1.5 | -1.8 | 4.3 | 4.4 |
| Haiti | 2.1 | 3.6 | 1.1 | 0.9 | 2.3 |
| Honduras | 0.6 | 12.3 | -7.4 | 9.2 | 5.4 |
| Hong Kong | -0.1 | -3.2 | -0.1 | 3.1 | 1.7 |
| Hungary | 12.3 | 4.8 | -10.6 | 18.7 | 17.1 |
| Iceland | 15.9 | 21.3 | 17.8 | 10.2 | 4.0 |
| India | 2.6 | 6.5 | 8.5 | 7.2 | 9.8 |
| Indonesia | 4.4 | 5.0 | 4.5 | 6.2 | 6.6 |
| Iraq | - | - | - | - | - |
| Ireland | 18.5 | 52.6 | 50.8 | -6.8 | -21.1 |
| Israel | 0.8 | 0.0 | 12.9 | 4.3 | 4.8 |
| Italy | -2.2 | 1.6 | 4.2 | 3.5 | 3.0 |
| Jamaica | 3.0 | -4.8 | 0.1 | 4.6 | 5.7 |
| Japan | 3.1 | 1.6 | -0.3 | 3.0 | 0.6 |
| Kazakhstan | 4.4 | 4.2 | 3.0 | 4.5 | 5.4 |
| Kenya | 14.2 | 6.6 | -9.2 | 6.4 | 4.6 |
| Korea | 3.1 | 5.4 | 6.6 | 9.8 | -2.4 |
| Kosovo | -2.7 | 12.1 | 7.3 | 5.7 | 6.1 |
| Kuwait | - | - | - | - | - |
| Latvia | 0.1 | -1.2 | -8.2 | 11.3 | 15.8 |
| Lithuania | 5.8 | 4.9 | 3.4 | 8.2 | 8.4 |
| Luxembourg | 9.5 | -7.7 | 4.6 | 5.6 | -5.9 |
| Malaysia | 4.8 | 3.6 | 2.6 | 6.1 | 1.4 |
| Malta | 7.0 | 55.7 | -0.3 | -7.2 | -1.8 |
| Mexico | 3.1 | 5.0 | 1.0 | -1.6 | 0.9 |
| Morocco | -1.3 | 0.2 | 8.8 | -0.2 | 1.2 |
| Mozambique | 12.4 | -16.8 | -9.4 | -5.8 | 12.4 |
| Netherlands | -2.4 | 29.2 | -7.3 | 4.2 | 3.2 |
| New Zealand | 9.2 | 4.0 | 3.4 | 5.0 | 5.3 |
| Nicaragua | -0.4 | 27.7 | -0.3 | -5.1 | -23.6 |
| Nigeria | 13.4 | -1.3 | -4.8 | -3.0 | 9.7 |
| North Macedonia | 10.7 | 8.3 | 12.5 | -2.2 | -7.3 |
| Norway | -0.3 | -4.0 | 3.9 | 2.6 | 2.8 |
| Oman | 2.4 | -1.2 | 16.5 | -4.3 | -5.1 |
| Panama | 8.7 | 6.5 | 2.1 | 7.6 | 0.9 |
| Paraguay | 7.1 | -1.9 | 2.1 | 6.0 | 7.1 |
| Peru | -2.3 | -4.6 | -0.2 | -0.2 | 4.8 |
| Philippines | 7.2 | 16.9 | 26.1 | 9.4 | 12.9 |
| Poland | 10.0 | 6.1 | -8.2 | 4.0 | 8.9 |
| Portugal | 2.3 | 5.9 | 2.5 | 11.5 | 5.8 |
| Qatar | 11.3 | 1.6 | 22.5 | 1.3 | - |
| Romania | 3.3 | 7.2 | 0.0 | 3.5 | -1.0 |
| Russia | -1.8 | -10.7 | 1.0 | 5.2 | 0.1 |
| Saudi Arabia | 7.5 | 3.7 | -14.0 | 0.7 | -3.0 |
| Serbia | -3.4 | 4.9 | 5.4 | 7.3 | 17.8 |
| Singapore | 4.2 | 2.0 | 1.5 | 4.2 | -3.4 |
| Slovakia | 3.0 | 21.6 | -9.3 | 3.9 | 3.7 |
| Slovenia | 1.0 | -1.2 | -3.7 | 10.4 | 9.4 |
| South Africa | 0.7 | 2.5 | -3.5 | 1.0 | -1.4 |
| Spain | 4.7 | 4.9 | 2.4 | 5.9 | 5.3 |
| Sweden | 5.4 | 5.8 | 4.1 | 5.6 | 4.2 |
| Switzerland | 3.0 | 2.3 | 2.5 | 3.4 | 1.1 |
| Taiwan | 2.1 | 2.7 | 3.4 | -0.3 | 3.0 |
| Tajikistan | - | - | - | - | - |
| Tanzania | 7.2 | 7.1 | 16.0 | 15.8 | 15.5 |
| Thailand | -2.2 | 4.4 | 2.9 | 1.8 | 3.8 |
| Trinidad and Tobago | 4.6 | -31.5 | - | - | - |
| Tunisia | -2.9 | -0.5 | 1.1 | 0.3 | 2.0 |
| Turkey | 5.1 | 9.3 | 2.2 | 8.2 | -0.6 |
| USA | 6.3 | 3.4 | 1.9 | 4.2 | 4.6 |
| Ukraine | -24.0 | -9.2 | 20.4 | 16.1 | 14.3 |
| United Arab Emirates | 10.9 | 4.3 | 8.8 | -8.2 | -0.4 |
| United Kingdom | 7.2 | 3.7 | 3.6 | 1.6 | -0.2 |
| Uruguay | 2.4 | -9.2 | -1.6 | -15.7 | -2.7 |
| Uzbekistan | 7.4 | 0.8 | 16.4 | 7.1 | - |
| Venezuela | -16.9 | -20.4 | -45.1 | -45.3 | -37.5 |
| Vietnam | 9.3 | 9.4 | 9.9 | 10.2 | 8.6 |
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Investment Economic News
-
United States: 2nd GDP release confirms stable growth in Q4 2019
February 27, 2020
Economic growth was stable in the fourth quarter from the third, with GDP growth again clocking in at 2.1% in seasonally-adjusted annualized terms (SAAR), according to a second GDP estimate released by the Bureau of Economic Analysis.
-
Hong Kong: Second release confirms GDP contracted at sharpest rate in a decade in Q4
February 26, 2020
The revised GDP reading confirmed the economy contracted at the sharpest pace since June 2009 in the fourth quarter, as political turmoil continued to extinguish economic activity.
-
Germany: Detailed breakdown confirms flatlining economy in Q4
February 25, 2020
A detailed breakdown of fourth-quarter national accounts data confirmed that the German economy flatlined over the prior quarter, contrasting the 0.2% expansion in the third quarter, on the back of notably weaker domestic demand and a drag from the external sector.
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