The recent slowdown in high-tech equipment price declines and some implications for business investment and labor productivity, Accessible Data
PrintAccessible version of figures
Figure 1: Real private nonresidential fixed investment
Note: Calculations based on Bureau of Economic Analysis (BEA) and National Income and Product Accounts (NIPA, also commonly referred to as NIPAs) data.
Year-to-year percent change
| Date | High-tech equipment | Software | All other nonresidential fixed investment |
|---|---|---|---|
| 1975Q1 | 3.72 | 25.52 | -11.68 |
| 1975Q2 | -0.23 | 24.15 | -13.48 |
| 1975Q3 | -7.28 | 14.88 | -10.28 |
| 1975Q4 | -8.71 | 6.21 | -5.77 |
| 1976Q1 | -0.76 | 0.00 | 2.38 |
| 1976Q2 | 11.20 | 5.28 | 5.09 |
| 1976Q3 | 19.60 | 11.92 | 5.16 |
| 1976Q4 | 29.42 | 17.54 | 4.67 |
| 1977Q1 | 27.73 | 11.76 | 6.87 |
| 1977Q2 | 25.86 | 6.18 | 8.99 |
| 1977Q3 | 23.22 | 1.31 | 9.22 |
| 1977Q4 | 21.83 | -1.39 | 10.89 |
| 1978Q1 | 26.59 | 7.28 | 6.51 |
| 1978Q2 | 31.85 | 14.23 | 11.70 |
| 1978Q3 | 33.58 | 22.58 | 13.06 |
| 1978Q4 | 31.00 | 29.76 | 13.47 |
| 1979Q1 | 28.99 | 28.35 | 15.68 |
| 1979Q2 | 18.47 | 26.39 | 7.27 |
| 1979Q3 | 17.74 | 23.72 | 6.88 |
| 1979Q4 | 17.89 | 20.57 | 3.28 |
| 1980Q1 | 17.84 | 19.30 | 1.82 |
| 1980Q2 | 17.68 | 17.29 | -3.64 |
| 1980Q3 | 17.90 | 17.59 | -6.30 |
| 1980Q4 | 13.20 | 17.84 | -3.61 |
| 1981Q1 | 13.80 | 17.64 | -2.60 |
| 1981Q2 | 16.02 | 16.69 | 5.26 |
| 1981Q3 | 14.55 | 15.36 | 7.58 |
| 1981Q4 | 18.02 | 15.45 | 7.17 |
| 1982Q1 | 11.85 | 19.60 | 2.10 |
| 1982Q2 | 2.30 | 19.35 | -2.64 |
| 1982Q3 | -1.37 | 15.08 | -7.92 |
| 1982Q4 | -7.62 | 8.58 | -11.04 |
| 1983Q1 | 0.00 | 7.59 | -11.21 |
| 1983Q2 | 13.85 | 12.18 | -8.60 |
| 1983Q3 | 18.78 | 21.71 | -1.46 |
| 1983Q4 | 33.28 | 29.90 | 5.48 |
| 1984Q1 | 27.75 | 28.93 | 12.62 |
| 1984Q2 | 28.23 | 26.65 | 17.12 |
| 1984Q3 | 28.34 | 24.66 | 15.52 |
| 1984Q4 | 23.89 | 25.85 | 11.23 |
| 1985Q1 | 18.19 | 24.28 | 9.67 |
| 1985Q2 | 12.71 | 23.13 | 6.57 |
| 1985Q3 | 5.82 | 16.35 | 2.78 |
| 1985Q4 | 3.92 | 12.66 | 2.66 |
| 1986Q1 | 7.31 | 11.66 | -0.78 |
| 1986Q2 | 7.26 | 11.62 | -5.13 |
| 1986Q3 | 7.24 | 12.69 | -5.19 |
| 1986Q4 | 7.56 | 11.51 | -6.26 |
| 1987Q1 | 3.17 | 12.12 | -7.09 |
| 1987Q2 | 2.32 | 12.31 | -1.95 |
| 1987Q3 | 8.84 | 14.79 | 1.49 |
| 1987Q4 | 3.26 | 16.58 | 1.23 |
| 1988Q1 | 8.32 | 17.44 | 4.23 |
| 1988Q2 | 11.18 | 18.05 | 3.82 |
| 1988Q3 | 7.71 | 19.54 | 1.65 |
| 1988Q4 | 9.52 | 21.53 | 3.11 |
| 1989Q1 | 9.59 | 25.09 | 3.91 |
| 1989Q2 | 9.47 | 28.18 | 2.56 |
| 1989Q3 | 10.18 | 30.57 | 4.81 |
| 1989Q4 | 9.63 | 31.10 | 1.62 |
| 1990Q1 | 7.73 | 26.70 | 1.86 |
| 1990Q2 | 1.25 | 22.05 | 0.07 |
| 1990Q3 | -2.21 | 12.54 | -0.91 |
| 1990Q4 | -0.92 | 11.97 | -1.93 |
| 1991Q1 | -4.21 | 11.67 | -5.39 |
| 1991Q2 | 0.15 | 11.56 | -5.41 |
| 1991Q3 | 5.38 | 15.41 | -8.73 |
| 1991Q4 | 6.99 | 14.33 | -7.27 |
| 1992Q1 | 11.35 | 15.57 | -6.26 |
| 1992Q2 | 14.84 | 17.08 | -2.42 |
| 1992Q3 | 17.30 | 18.64 | -0.01 |
| 1992Q4 | 14.57 | 18.49 | 4.28 |
| 1993Q1 | 16.42 | 15.73 | 6.02 |
| 1993Q2 | 12.19 | 12.66 | 5.48 |
| 1993Q3 | 12.59 | 11.08 | 4.49 |
| 1993Q4 | 13.95 | 8.29 | 5.81 |
| 1994Q1 | 14.21 | 9.43 | 5.85 |
| 1994Q2 | 14.67 | 10.01 | 5.08 |
| 1994Q3 | 11.17 | 9.99 | 7.20 |
| 1994Q4 | 15.18 | 9.87 | 6.60 |
| 1995Q1 | 18.21 | 8.21 | 9.76 |
| 1995Q2 | 21.91 | 8.89 | 7.95 |
| 1995Q3 | 20.10 | 10.18 | 6.76 |
| 1995Q4 | 21.33 | 12.55 | 3.56 |
| 1996Q1 | 21.18 | 15.41 | 1.63 |
| 1996Q2 | 19.67 | 16.74 | 4.25 |
| 1996Q3 | 23.65 | 17.47 | 6.77 |
| 1996Q4 | 18.89 | 19.46 | 8.44 |
| 1997Q1 | 17.36 | 26.89 | 7.68 |
| 1997Q2 | 18.97 | 28.30 | 6.21 |
| 1997Q3 | 22.69 | 30.88 | 6.88 |
| 1997Q4 | 22.99 | 31.50 | 4.02 |
| 1998Q1 | 27.33 | 23.47 | 5.10 |
| 1998Q2 | 25.85 | 21.36 | 7.43 |
| 1998Q3 | 19.10 | 19.70 | 4.95 |
| 1998Q4 | 23.14 | 19.20 | 7.25 |
| 1999Q1 | 20.57 | 20.46 | 6.23 |
| 1999Q2 | 23.95 | 24.77 | 3.81 |
| 1999Q3 | 25.85 | 25.53 | 5.05 |
| 1999Q4 | 17.75 | 22.47 | 3.55 |
| 2000Q1 | 20.96 | 20.84 | 4.95 |
| 2000Q2 | 19.91 | 15.79 | 6.71 |
| 2000Q3 | 18.57 | 9.93 | 5.36 |
| 2000Q4 | 23.30 | 9.78 | 4.07 |
| 2001Q1 | 12.66 | 6.91 | 0.71 |
| 2001Q2 | -0.09 | 1.69 | -2.85 |
| 2001Q3 | -6.53 | 0.28 | -4.18 |
| 2001Q4 | -9.31 | -5.64 | -6.67 |
| 2002Q1 | -10.34 | -5.50 | -8.12 |
| 2002Q2 | -5.59 | -0.74 | -9.02 |
| 2002Q3 | -0.11 | 2.71 | -10.03 |
| 2002Q4 | -2.03 | 3.28 | -7.39 |
| 2003Q1 | 3.41 | 4.68 | -5.84 |
| 2003Q2 | 5.92 | 3.02 | -0.90 |
| 2003Q3 | 9.99 | 6.39 | 1.29 |
| 2003Q4 | 18.08 | 13.19 | 2.08 |
| 2004Q1 | 13.31 | 12.05 | 1.34 |
| 2004Q2 | 14.14 | 11.60 | 0.99 |
| 2004Q3 | 8.98 | 8.88 | 3.72 |
| 2004Q4 | 4.75 | 7.90 | 6.01 |
| 2005Q1 | 7.84 | 6.98 | 9.07 |
| 2005Q2 | 6.76 | 8.91 | 7.71 |
| 2005Q3 | 9.76 | 6.31 | 6.16 |
| 2005Q4 | 10.10 | 3.51 | 4.09 |
| 2006Q1 | 14.93 | 4.22 | 6.51 |
| 2006Q2 | 13.60 | 2.84 | 6.81 |
| 2006Q3 | 12.75 | 3.85 | 5.86 |
| 2006Q4 | 10.61 | 5.63 | 6.35 |
| 2007Q1 | 9.85 | 7.02 | 3.43 |
| 2007Q2 | 10.12 | 6.18 | 4.54 |
| 2007Q3 | 9.59 | 5.63 | 5.28 |
| 2007Q4 | 16.47 | 5.26 | 5.48 |
| 2008Q1 | 8.87 | 6.01 | 4.48 |
| 2008Q2 | 7.87 | 6.09 | 1.05 |
| 2008Q3 | 0.60 | 5.29 | -3.26 |
| 2008Q4 | -14.35 | 2.40 | -9.71 |
| 2009Q1 | -16.62 | -1.26 | -17.84 |
| 2009Q2 | -16.25 | -0.69 | -21.16 |
| 2009Q3 | -7.03 | 0.03 | -21.59 |
| 2009Q4 | 6.62 | 2.81 | -18.78 |
| 2010Q1 | 12.36 | 1.27 | -8.99 |
| 2010Q2 | 12.77 | -1.67 | -0.15 |
| 2010Q3 | 8.07 | -1.71 | 5.80 |
| 2010Q4 | 6.84 | -1.79 | 10.90 |
| 2011Q1 | 1.38 | 2.43 | 9.16 |
| 2011Q2 | 3.17 | 6.97 | 6.67 |
| 2011Q3 | 2.28 | 8.65 | 10.28 |
| 2011Q4 | -0.44 | 9.53 | 11.05 |
| 2012Q1 | 6.19 | 7.62 | 12.49 |
| 2012Q2 | 2.68 | 6.83 | 11.79 |
| 2012Q3 | 0.04 | 4.74 | 6.21 |
| 2012Q4 | 3.96 | 3.41 | 3.63 |
| 2013Q1 | 1.10 | 5.33 | 2.31 |
| 2013Q2 | 3.34 | 1.50 | 1.67 |
| 2013Q3 | 6.34 | 2.74 | 2.46 |
| 2013Q4 | 1.49 | 2.81 | 5.68 |
| 2014Q1 | -0.74 | 0.93 | 6.56 |
| 2014Q2 | 3.98 | 4.16 | 7.81 |
| 2014Q3 | 1.05 | 4.56 | 9.49 |
| 2014Q4 | 6.95 | 6.12 | 6.10 |
Figure 2: Labor productivity and capital deepening
Note: Based on John G. Fernald, "A Quarterly, Utilization-Adjusted Series on Total Factor Productivity." FRBSF Working Paper 2012-19 (updated March 2014)
Capital deepening constructed with trend hours growth based on a centered 15-year moving average
Log growth rates
| Date | Labor Productivity | Contribution of capital deepening: | ||
|---|---|---|---|---|
| High-tech equipment | Software | Other | ||
| 1975-1994 | 1.73 | 0.31 | 0.10 | 0.26 |
| 1995-2004 | 3.05 | 0.51 | 0.23 | 0.45 |
| 2005-2009 | 1.96 | 0.28 | 0.15 | 0.46 |
| 2010-2014 | 0.91 | 0.12 | 0.09 | 0.33 |
Figure 3: High-tech equipment prices
Note: Calculations based on BEA and NIPA data
Note: High-tech equipment refers to information processing equipment in the NIPAs
Percent change, annual rate
| Date | Quarterly inflation | Five-year average inflation | Counterfactual five-year average inflation |
|---|---|---|---|
| 1990Q1 | -3.29 | -2.49 | |
| 1990Q2 | -2.02 | -2.36 | |
| 1990Q3 | 0.61 | -2.11 | |
| 1990Q4 | -0.43 | -1.95 | |
| 1991Q1 | -1.07 | -1.69 | |
| 1991Q2 | -4.01 | -1.83 | |
| 1991Q3 | -6.30 | -2.36 | |
| 1991Q4 | -4.29 | -2.52 | |
| 1992Q1 | -0.69 | -2.22 | |
| 1992Q2 | -5.95 | -2.17 | |
| 1992Q3 | -4.07 | -2.08 | |
| 1992Q4 | -5.48 | -2.52 | |
| 1993Q1 | -4.29 | -2.78 | |
| 1993Q2 | -6.00 | -2.85 | |
| 1993Q3 | -5.36 | -3.00 | |
| 1993Q4 | -5.32 | -3.34 | |
| 1994Q1 | -2.12 | -3.46 | |
| 1994Q2 | -3.29 | -3.45 | |
| 1994Q3 | -5.27 | -3.61 | |
| 1994Q4 | -7.16 | -3.81 | |
| 1995Q1 | -5.55 | -3.93 | |
| 1995Q2 | -5.24 | -4.09 | |
| 1995Q3 | -8.52 | -4.54 | |
| 1995Q4 | -9.98 | -5.02 | |
| 1996Q1 | -11.14 | -5.53 | |
| 1996Q2 | -12.99 | -5.99 | |
| 1996Q3 | -8.29 | -6.09 | |
| 1996Q4 | -8.30 | -6.30 | |
| 1997Q1 | -9.99 | -6.76 | |
| 1997Q2 | -9.77 | -6.95 | |
| 1997Q3 | -10.16 | -7.25 | |
| 1997Q4 | -10.83 | -7.52 | |
| 1998Q1 | -15.50 | -8.10 | |
| 1998Q2 | -14.16 | -8.51 | |
| 1998Q3 | -13.25 | -8.91 | |
| 1998Q4 | -12.60 | -9.27 | |
| 1999Q1 | -11.21 | -9.71 | |
| 1999Q2 | -10.84 | -10.08 | |
| 1999Q3 | -9.25 | -10.27 | |
| 1999Q4 | -6.70 | -10.25 | |
| 2000Q1 | -4.57 | -10.21 | |
| 2000Q2 | -5.91 | -10.24 | |
| 2000Q3 | -4.59 | -10.05 | |
| 2000Q4 | -5.75 | -9.84 | |
| 2001Q1 | -13.33 | -9.95 | |
| 2001Q2 | -8.18 | -9.71 | |
| 2001Q3 | -8.68 | -9.73 | |
| 2001Q4 | -8.35 | -9.73 | |
| 2002Q1 | -4.49 | -9.47 | |
| 2002Q2 | -4.99 | -9.23 | |
| 2002Q3 | -6.77 | -9.06 | |
| 2002Q4 | -7.13 | -8.88 | |
| 2003Q1 | -8.08 | -8.49 | |
| 2003Q2 | -5.75 | -8.07 | |
| 2003Q3 | -6.14 | -7.70 | |
| 2003Q4 | -7.13 | -7.42 | |
| 2004Q1 | -3.70 | -7.04 | |
| 2004Q2 | -3.34 | -6.67 | |
| 2004Q3 | -3.47 | -6.38 | |
| 2004Q4 | -3.68 | -6.23 | |
| 2005Q1 | -4.55 | -6.23 | |
| 2005Q2 | -5.19 | -6.19 | |
| 2005Q3 | -5.06 | -6.22 | |
| 2005Q4 | -5.37 | -6.20 | |
| 2006Q1 | -5.95 | -5.81 | |
| 2006Q2 | -4.99 | -5.65 | |
| 2006Q3 | -3.11 | -5.37 | |
| 2006Q4 | -1.45 | -5.03 | |
| 2007Q1 | -1.44 | -4.88 | |
| 2007Q2 | -2.63 | -4.76 | |
| 2007Q3 | -9.42 | -4.90 | |
| 2007Q4 | -9.70 | -5.03 | |
| 2008Q1 | -1.50 | -4.70 | |
| 2008Q2 | -2.60 | -4.55 | |
| 2008Q3 | -1.42 | -4.31 | |
| 2008Q4 | -2.62 | -4.09 | |
| 2009Q1 | -5.55 | -4.18 | |
| 2009Q2 | -5.10 | -4.27 | |
| 2009Q3 | -0.58 | -4.13 | |
| 2009Q4 | -3.11 | -4.10 | -4.10 |
| 2010Q1 | -2.10 | -3.98 | -4.10 |
| 2010Q2 | -0.59 | -3.75 | -4.10 |
| 2010Q3 | -1.16 | -3.56 | -4.10 |
| 2010Q4 | 1.05 | -3.24 | -4.10 |
| 2011Q1 | -0.09 | -2.95 | -4.10 |
| 2011Q2 | -3.54 | -2.87 | -4.10 |
| 2011Q3 | -3.18 | -2.88 | -4.10 |
| 2011Q4 | -2.04 | -2.90 | -4.10 |
| 2012Q1 | -1.01 | -2.88 | -4.10 |
| 2012Q2 | -2.74 | -2.89 | -4.10 |
| 2012Q3 | -1.40 | -2.48 | -4.10 |
| 2012Q4 | -0.99 | -2.03 | -4.10 |
| 2013Q1 | -1.08 | -2.01 | -4.10 |
| 2013Q2 | -0.34 | -1.89 | -4.10 |
| 2013Q3 | -0.52 | -1.85 | -4.10 |
| 2013Q4 | -0.73 | -1.75 | -4.10 |
| 2014Q1 | 0.01 | -1.47 | -4.10 |
| 2014Q2 | 0.69 | -1.18 | -4.10 |
| 2014Q3 | -0.18 | -1.16 | -4.10 |
| 2014Q4 | -0.44 | -1.03 | -4.10 |
Figure 4: High-tech equipment prices by category, five year average inflation
Note: Calculations based on BEA and NIPA data
Percent change, annual rate
| Date | Computers and peripheral equipment | Communication equipment | Other high-tech equipment |
|---|---|---|---|
| 1990Q1 | -11.19 | 0.41 | 3.27 |
| 1990Q2 | -10.68 | 0.21 | 3.30 |
| 1990Q3 | -10.08 | 0.17 | 3.45 |
| 1990Q4 | -9.58 | 0.11 | 3.45 |
| 1991Q1 | -8.78 | 0.26 | 3.21 |
| 1991Q2 | -8.89 | 0.34 | 2.78 |
| 1991Q3 | -10.21 | 0.14 | 2.64 |
| 1991Q4 | -10.78 | 0.12 | 2.73 |
| 1992Q1 | -9.63 | -0.12 | 2.71 |
| 1992Q2 | -9.33 | -0.01 | 2.41 |
| 1992Q3 | -9.41 | 0.06 | 2.69 |
| 1992Q4 | -10.09 | -0.27 | 2.34 |
| 1993Q1 | -10.51 | -0.52 | 2.21 |
| 1993Q2 | -10.94 | -0.21 | 2.12 |
| 1993Q3 | -11.43 | -0.14 | 2.10 |
| 1993Q4 | -12.02 | -0.32 | 1.85 |
| 1994Q1 | -12.23 | -0.35 | 1.73 |
| 1994Q2 | -11.94 | -0.56 | 1.65 |
| 1994Q3 | -12.30 | -0.70 | 1.66 |
| 1994Q4 | -12.60 | -0.93 | 1.57 |
| 1995Q1 | -12.64 | -1.14 | 1.49 |
| 1995Q2 | -13.14 | -1.12 | 1.58 |
| 1995Q3 | -14.11 | -1.28 | 1.52 |
| 1995Q4 | -14.90 | -1.42 | 1.21 |
| 1996Q1 | -15.75 | -1.58 | 0.96 |
| 1996Q2 | -16.64 | -1.77 | 0.91 |
| 1996Q3 | -16.58 | -1.76 | 0.73 |
| 1996Q4 | -16.93 | -1.59 | 0.50 |
| 1997Q1 | -17.72 | -1.59 | 0.15 |
| 1997Q2 | -17.96 | -1.60 | 0.02 |
| 1997Q3 | -18.24 | -1.72 | -0.32 |
| 1997Q4 | -18.70 | -1.77 | -0.40 |
| 1998Q1 | -19.59 | -2.10 | -0.61 |
| 1998Q2 | -20.05 | -2.49 | -0.76 |
| 1998Q3 | -20.60 | -2.82 | -0.80 |
| 1998Q4 | -21.13 | -3.07 | -0.83 |
| 1999Q1 | -21.77 | -3.41 | -0.90 |
| 1999Q2 | -22.34 | -3.59 | -0.98 |
| 1999Q3 | -22.53 | -3.70 | -1.07 |
| 1999Q4 | -22.29 | -3.76 | -1.06 |
| 2000Q1 | -22.01 | -3.71 | -1.28 |
| 2000Q2 | -21.87 | -3.73 | -1.49 |
| 2000Q3 | -21.34 | -3.69 | -1.53 |
| 2000Q4 | -20.79 | -3.75 | -1.44 |
| 2001Q1 | -20.91 | -4.01 | -1.35 |
| 2001Q2 | -20.14 | -4.29 | -1.18 |
| 2001Q3 | -19.97 | -4.61 | -1.13 |
| 2001Q4 | -19.78 | -4.89 | -1.13 |
| 2002Q1 | -19.17 | -4.94 | -1.05 |
| 2002Q2 | -18.50 | -5.22 | -0.89 |
| 2002Q3 | -17.94 | -5.58 | -0.72 |
| 2002Q4 | -17.43 | -5.82 | -0.57 |
| 2003Q1 | -16.56 | -6.08 | -0.25 |
| 2003Q2 | -15.63 | -6.14 | -0.09 |
| 2003Q3 | -14.68 | -6.35 | 0.01 |
| 2003Q4 | -13.73 | -6.72 | 0.07 |
| 2004Q1 | -12.90 | -6.64 | 0.04 |
| 2004Q2 | -12.21 | -6.48 | 0.08 |
| 2004Q3 | -11.85 | -6.27 | 0.19 |
| 2004Q4 | -11.73 | -6.06 | 0.16 |
| 2005Q1 | -11.88 | -6.11 | 0.32 |
| 2005Q2 | -11.94 | -6.05 | 0.32 |
| 2005Q3 | -12.15 | -6.05 | 0.32 |
| 2005Q4 | -12.28 | -6.01 | 0.31 |
| 2006Q1 | -11.32 | -5.99 | 0.23 |
| 2006Q2 | -11.28 | -5.76 | 0.29 |
| 2006Q3 | -11.03 | -5.41 | 0.42 |
| 2006Q4 | -10.59 | -5.00 | 0.51 |
| 2007Q1 | -10.44 | -4.76 | 0.48 |
| 2007Q2 | -10.57 | -4.37 | 0.45 |
| 2007Q3 | -10.54 | -4.85 | 0.41 |
| 2007Q4 | -10.38 | -5.45 | 0.41 |
| 2008Q1 | -10.41 | -4.42 | 0.32 |
| 2008Q2 | -10.33 | -4.16 | 0.41 |
| 2008Q3 | -10.28 | -3.63 | 0.47 |
| 2008Q4 | -10.29 | -3.03 | 0.49 |
| 2009Q1 | -10.46 | -3.23 | 0.48 |
| 2009Q2 | -10.66 | -3.45 | 0.56 |
| 2009Q3 | -10.52 | -3.18 | 0.56 |
| 2009Q4 | -10.31 | -3.34 | 0.56 |
| 2010Q1 | -9.77 | -3.43 | 0.47 |
| 2010Q2 | -9.22 | -3.31 | 0.50 |
| 2010Q3 | -8.64 | -3.28 | 0.50 |
| 2010Q4 | -8.11 | -2.87 | 0.52 |
| 2011Q1 | -7.84 | -2.49 | 0.69 |
| 2011Q2 | -7.41 | -2.72 | 0.69 |
| 2011Q3 | -7.06 | -3.11 | 0.69 |
| 2011Q4 | -6.77 | -3.47 | 0.68 |
| 2012Q1 | -6.33 | -3.85 | 0.75 |
| 2012Q2 | -5.92 | -4.21 | 0.73 |
| 2012Q3 | -5.34 | -3.56 | 0.76 |
| 2012Q4 | -4.97 | -2.59 | 0.75 |
| 2013Q1 | -4.29 | -3.03 | 0.63 |
| 2013Q2 | -3.95 | -2.87 | 0.50 |
| 2013Q3 | -3.68 | -2.89 | 0.42 |
| 2013Q4 | -3.32 | -2.89 | 0.40 |
| 2014Q1 | -2.86 | -2.42 | 0.40 |
| 2014Q2 | -2.28 | -1.98 | 0.36 |
| 2014Q3 | -1.95 | -2.22 | 0.35 |
| 2014Q4 | -1.67 | -2.05 | 0.33 |
Figure 5: Computers and peripheral equipment prices, five-year average inflation
Note: Calculations based on BEA data
Percent change
| Date | Electronic Computers: | Computer storage devices: | Computer peripheral equipment: | Other computer and peripheral equipment: | |||
|---|---|---|---|---|---|---|---|
| Servers | PC's | Computer storage devices | Computer displays | Computer peripheral equipment, n.e.c. | Capitalized system integration services | Net sales of used computers | |
| 2000 | -25.67 | -30.33 | -14.99 | -8.72 | -13.20 | 3.42 | -12.95 |
| 2001 | -24.89 | -29.66 | -14.65 | -10.04 | -9.28 | 3.37 | -12.19 |
| 2002 | -19.21 | -28.13 | -15.06 | -9.42 | -7.19 | 3.50 | -11.85 |
| 2003 | -16.81 | -24.15 | -13.58 | -6.97 | -4.94 | 3.56 | -10.67 |
| 2004 | -14.20 | -19.33 | -11.59 | -5.76 | -3.72 | 3.49 | -9.55 |
| 2005 | -13.45 | -19.58 | -10.07 | -6.24 | -4.10 | 3.28 | -9.63 |
| 2006 | -11.93 | -18.05 | -9.07 | -6.05 | -4.46 | 3.29 | -9.40 |
| 2007 | -16.10 | -16.05 | -7.43 | -5.99 | -4.38 | 3.13 | -8.65 |
| 2008 | -16.02 | -15.51 | -6.34 | -6.08 | -4.83 | 2.67 | -8.08 |
| 2009 | -16.54 | -15.71 | -6.17 | -5.93 | -4.97 | 2.52 | -7.83 |
| 2010 | -15.44 | -12.46 | -6.69 | -5.45 | -4.74 | 2.27 | -7.17 |
| 2011 | -13.20 | -9.62 | -5.92 | -5.20 | -4.54 | 1.79 | -6.60 |
| 2012 | -9.47 | -7.83 | -4.65 | -3.69 | -3.24 | 1.26 | -5.61 |
| 2013 | -6.78 | -5.27 | -4.38 | -2.43 | -2.02 | 1.46 | -5.11 |
| 2013 share: | 11% | 43% | 5% | 7% | 7% | 22% | 4% |
Figure 6: Import penetration of computer equipment investment
Note: Calculations based on data from the Census Annual Survey of Manufacturers, the Census and BEA U.S. International Trade in Goods and Services, and BEA Input-Output Tables
Note: Computer equipment includes PC's and servers and excludes peripheral equipment
Import share
| Date | Staff estimate based on shipments, imports, and exports | Staff estimate for 2007 based on BEA's benchmark input-output tables |
|---|---|---|
| 2002 | 17.81 | 35.54 |
| 2003 | 22.00 | 35.54 |
| 2004 | 28.28 | 35.54 |
| 2005 | 32.18 | 35.54 |
| 2006 | 34.39 | 35.54 |
| 2007 | 35.82 | 35.54 |
| 2008 | 35.55 | 35.54 |
| 2009 | 42.13 | 35.54 |
| 2010 | 66.61 | 35.54 |
| 2011 | 90.13 | 35.54 |
| 2012 | 86.89 | 35.54 |
| 2013 | 86.59 | 35.54 |
Figure 7: Computer equipment price index in the NIPAs
Note: Calculations based on Bureau of Labor Statistics (BLS) price indexes, BEA data, and weights from figure 6.
Note: Computer equipment includes PCs and servers and excludes peripheral equipment
Percent change
| Date | BEA Index | Weighted index based on domestic and import price indexes | Domestic price index (Industry PPI series) | Import price index (IPI series) |
|---|---|---|---|---|
| 2003 | -16.21 | -15.71 | -19.78 | -6.09 |
| 2004 | -9.83 | -9.10 | -11.77 | -4.77 |
| 2005 | -18.69 | -18.91 | -21.27 | -13.92 |
| 2006 | -19.57 | -19.63 | -23.99 | -11.33 |
| 2007 | -15.42 | -16.85 | -24.29 | -3.74 |
| 2008 | -14.10 | -16.39 | -23.47 | -3.50 |
| 2009 | -11.36 | -11.38 | -16.80 | -3.87 |
| 2010 | -5.22 | -4.43 | -10.58 | -1.27 |
| 2011 | -6.15 | -5.84 | -10.38 | -5.33 |
| 2012 | -4.46 | -4.59 | -6.60 | -4.35 |
| 2013 | -1.15 | -1.40 | -7.76 | -0.69 |