Gross Private Domestic Investment

Business fixed investment, residential construction, and inventory changes — the most cyclical GDP component

5.0$T

Trend YoY growth is +2.4%, accelerating by 4 bps/month over the last 3Y. Latest: +1.4%, 93 bps below trend, a 1.1σ deviation. The latest YoY reading is depressed by 1.3 pp due to an tough comparison base from 2024.