Data still provides no evidence for an investment boom from the TCJA: Year-over-year change in real, nonresidential fixed investment, 2003Q1–2019Q3
| Years | Real, nonresidential fixed investment |
|---|---|
| 2003-Q1 | -2.3% |
| 2003-Q2 | 1.6% |
| 2003-Q3 | 4.0% |
| 2003-Q4 | 6.8% |
| 2004-Q1 | 5.2% |
| 2004-Q2 | 4.9% |
| 2004-Q3 | 5.7% |
| 2004-Q4 | 6.5% |
| 2005-Q1 | 9.2% |
| 2005-Q2 | 8.2% |
| 2005-Q3 | 7.4% |
| 2005-Q4 | 6.1% |
| 2006-Q1 | 8.0% |
| 2006-Q2 | 8.2% |
| 2006-Q3 | 7.8% |
| 2006-Q4 | 8.1% |
| 2007-Q1 | 6.5% |
| 2007-Q2 | 7.0% |
| 2007-Q3 | 6.8% |
| 2007-Q4 | 7.3% |
| 2008-Q1 | 5.8% |
| 2008-Q2 | 3.8% |
| 2008-Q3 | 0.2% |
| 2008-Q4 | -7.0% |
| 2009-Q1 | -14.4% |
| 2009-Q2 | -17.1% |
| 2009-Q3 | -16.1% |
| 2009-Q4 | -10.3% |
| 2010-Q1 | -2.3% |
| 2010-Q2 | 4.1% |
| 2010-Q3 | 7.5% |
| 2010-Q4 | 8.9% |
| 2011-Q1 | 8.0% |
| 2011-Q2 | 7.3% |
| 2011-Q3 | 9.3% |
| 2011-Q4 | 10.0% |
| 2012-Q1 | 12.9% |
| 2012-Q2 | 12.6% |
| 2012-Q3 | 7.2% |
| 2012-Q4 | 5.6% |
| 2013-Q1 | 4.3% |
| 2013-Q2 | 2.3% |
| 2013-Q3 | 4.4% |
| 2013-Q4 | 5.4% |
| 2014-Q1 | 5.5% |
| 2014-Q2 | 8.1% |
| 2014-Q3 | 8.4% |
| 2014-Q4 | 6.9% |
| 2015-Q1 | 5.0% |
| 2015-Q2 | 2.5% |
| 2015-Q3 | 0.8% |
| 2015-Q4 | -0.9% |
| 2016-Q1 | -0.7% |
| 2016-Q2 | 0.0% |
| 2016-Q3 | 1.1% |
| 2016-Q4 | 2.4% |
| 2017-Q1 | 4.2% |
| 2017-Q2 | 4.3% |
| 2017-Q3 | 3.5% |
| 2017-Q4 | 5.4% |
| 2018-Q1 | 6.0% |
| 2018-Q2 | 6.9% |
| 2018-Q3 | 6.8% |
| 2018-Q4 | 5.9% |
| 2019-Q1 | 4.8% |
| 2019-Q2 | 2.6% |
| 2019-Q3 | 1.3% |
.
Source: EPI analysis of data from table 1.1.6 from the National Income and Product Accounts (NIPA) from the Bureau of Economic Analysis (BEA).