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FRB Estimates of Manufacturing Investment, Capital Stock, and Capital Services

Published by Board of Governors of the Federal Reserve System | Board of Governors of the Federal Reserve System | Metadata Last Checked: June 26, 2025 | Last Modified: R/P1Y
As part of the estimation of capacity for publication of its G.17 statistical release on industrial production and capacity utilization, the Federal Reserve Board produces annual information on the real capital stock and real investment for detailed industries within the manufacturing sector. For each industry, asset-level real capital stocks are estimated using investment data. The capital stocks are constructed using the perpetual inventory method, combining industry-level investment data (primarily from the Census Bureau's Annual Survey of Manufactures and Census of Manufactures), asset-level investment data (from the fixed assets tables issued by the Bureau of Economic Analysis(BEA), and asset-level deflators from the BEA.

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