Measuring Agency MBS Market Liquidity with Transaction Data, Accessible Data
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Figure 1: Real manufacturing capital stock in equipment and structures (Chain weighted, billions $2009)
Figure 1 plots—on a logarithmic scale—the real capital stock in equipment and structures for the manufacturing sector from 1952 to 2013. The series in billions of 2009 dollars and there are grey bars that represent recessions. The line trends upward and from about 870 billion dollars in 1952 and then flattens out in 2000. The current level is at about 2,700 billion dollars.
Figure 2: Real manufacturing capital stock in equipment and structures (Percent change)
Figure 2 plots the rate of change of the real capital stock in equipment and structures (gross investment less depreciation as a share of the stock at the end of the previous year) from 1952 to 2013. The series is in percent and there are grey bars that represent recessions. The growth rates were much high through 1980, averaging about 3-4 percent, with swings up to nearly 6 percent. Since the 1980s, the rate of change of the real capital stock in equipment and structures is averaging close to 1 percent and has posted two periods of negative growth.
Figure 3: Real manufacturing investment in equipment and structures (Chain weighted, billions $2009)
Figure 3 plots—on a logarithmic scale—real manufacturing investment in equipment and structures for the manufacturing sector from 1952 to 2013. The series in billions of 2009 dollars and there are grey bars that represent recessions. The line trends upward and from about 37 billion dollars in 1952 and then peaks at about 160 billion in 2000. Since 2000, real manufacturing investment in equipment and structures has dipped and recovered twice, and remains at about its level in 2000.
Figure 4: Real manufacturing investment in equipment and structures (Percent change)
Figure 4 plots real manufacturing investment in equipment and structures from 1952 to 2013. The series is in percent and there are grey bars that represent recessions. The growth rates are highly variable. Of note, the cyclical declines in investment spending have been of longer duration since 1980 and were not followed by above-average growth rates of investment spending since.