FEB. 28, 2024 — U.S. nonfarm employer businesses invested $1,899.9 billion in new and used structures and equipment in 2022, up 12.9% from $1,682.1 billion in 2021, according to estimates from the Annual Capital Expenditures Survey (ACES) released today by the U.S. Census Bureau.

The ACES produces estimates of business spending for new and used structures and equipment. The sample includes approximately 50,000 employer businesses. Data are published at the national level by 3-digit and selected 4-digit industries based on the 2017 North American Industry Classification System (NAICS).

Highlights:

• Spending on new structures and equipment in 2022 was $1,786.4 billion (94.0% of total expenditures), up 13.2% from $1,578.3 billion in 2021.
• The Oil and Gas Extraction industry (NAICS 2111) in 2022 invested $88.7 billion in structures and equipment, up 31.9% from $67.2 billion in 2021.
• The Electric Power Generation, Transmission, and Distribution industry (NAICS 2211) in 2022 spent a total of $148.9 billion on structures and equipment, up 8.7% from $137.0 billion in 2021.
• The Semiconductor and Other Electronic Component Manufacturing industry (NAICS 3344) in 2022 invested $40.4 billion in structures and equipment, up 59.5% from $25.4 billion in 2021.
• The Air Transportation industry (NAICS 4810) in 2022 spent a total of $25.7 billion on structures and equipment, up 91.3% from $13.5 billion in 2021.
• The Wired and Wireless Telecommunications Carriers industry (NAICS 5173) in 2022 invested $101.1 billion in structures and equipment, up 23.0% from $82.2 billion in 2021.

The Census Bureau has conducted this survey annually since 1996. This is the last Annual Capital Expenditures Survey data release before the survey transitions to the Annual Integrated Economic Survey.

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