Global | New times for investment?

Summary

Investment in fixed capital has grown strongly in recent years in a number of geographies. Recent trends indicate that digital technologies such as artificial intelligence and the energy transition will help sustain, and even accelerate, investment spending.

Key points

• Key points:
• Investment has increased significantly in countries such as the United States, France, Sweden, Lithuania, Estonia, Serbia, Portugal and New Zealand.
• The recent dynamism of investment has to do with the strong growth in economic activity.
• Mainly in the United States, and to a lesser extent in other regions, the recent positive trend is in line with a structural reduction in the relative price of investment.
• There are signs that the rise in fixed capital investment reflects increased spending on artificial intelligence and other digital technologies, as well as an increased willingness to embrace energy transition policies.
• Moreover, investment has been stronger in some countries than in others. In several countries, such as Spain, Germany and most emerging countries (Mexico being the main exception), fixed capital spending has grown by relatively little in recent years.

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