>In the US, turnover increases, because the U.S. investment in
>structures (probably associated with deindustrialization and outsourcing; Doug
>knows more about the data than I do) has been declining while there is more
>investment in quickly depreciating computers and the like.
Yup. The press - led by Dollars & Sense alum Michael Mandel at Biz Weak - is full of hype about an investment boom. It's mainly an artifact of the price index for computers; the nominal figures are a lot less impressive. Here are the major GDP categories for the post-WW II expansions. PDE = producers' durable equipment.
Doug
----
gross private domestic investment
---------------------------------------------------------
fixed
-----------------------------------------------
personal nonres
consum -------------------------
expend total total total struct PDE resident
45Q4-48Q4 65.4% 15.4% 13.8% 9.1% 3.4% 5.7% 4.7% 49Q4-53Q2 62.9% 16.5% 15.0% 9.2% 3.4% 5.8% 5.8% 54Q2-57Q3 62.4% 15.9% 15.3% 9.7% 3.9% 5.9% 5.5% 58Q2-60Q2 62.9% 15.1% 14.4% 9.2% 3.6% 5.5% 5.2% 61Q1-69Q4 61.8% 15.5% 14.4% 9.8% 3.7% 6.1% 4.6% 70Q4-73Q4 62.2% 16.4% 15.6% 10.3% 3.9% 6.4% 5.3% 75Q1-80Q1 62.8% 17.0% 16.3% 11.3% 3.9% 7.4% 5.0% 80Q3-81Q3 62.8% 17.2% 16.9% 12.7% 5.0% 7.7% 4.2% 82Q4-90Q3 65.4% 16.0% 15.6% 11.1% 4.0% 7.1% 4.5% 91Q1-98Q4 67.9% 14.2% 13.8% 9.9% 2.8% 7.0% 3.9%
gov't
net consum &
exports exports imports invest
45Q4-48Q4 3.2% 6.6% 3.4% 16.0% 49Q4-53Q2 0.4% 4.5% 4.1% 20.2% 54Q2-57Q3 0.4% 4.6% 4.2% 21.3% 58Q2-60Q2 -0.1% 4.3% 4.4% 22.1% 61Q1-69Q4 0.3% 4.9% 4.6% 22.4% 70Q4-73Q4 -0.3% 5.7% 6.0% 21.7% 75Q1-80Q1 -0.5% 8.4% 8.9% 20.7% 80Q3-81Q3 -0.3% 9.9% 10.2% 20.4% 82Q4-90Q3 -2.2% 8.2% 10.4% 20.7% 91Q1-98Q4 -1.0% 10.8% 11.9% 19.0%