Glossary

Tangible products that can be stored or inventoried and that have an average life of at least three years.

Tangible products that can be stored or inventoried and that have an average life of less than three years.

Income from current production not accruing to labor or capital. Includes business current transfer payments (net), taxes on production and imports, and the current surplus of government enterprises less subsidies.

Consists of purchases of both nonresidential structures and equipment and software.

Investment in nonresidential structures consists of new construction (including own-account production), improvements to existing structures, expenditures on new mobile structures, brokers' commissions on sales of structures, and net purchases of used structures by private businesses and by nonprofit institutions from government agencies. New construction includes hotels and motels and mining exploration, shafts, and wells. Nonresidential structures also includes equipment considered to be an integral part of a structure, such as plumbing, heating, and electrical systems.