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3. Gross fixed capital formation, volumes

Gross fixed capital formation, volumes

Gross fixed capital formation (GFCF, ESA 2010, 3.124), also known as Investments, consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets. These assets acquired are intended for use in processes of production. GFCF includes acquisition less disposals of, e.g. buildings, structures, machinery and equipment, mineral exploration, computer software, literary or artistic originals and major improvements to land such as the clearance of forests (ESA 2010, 3.127). Data are calculated as chain-linked volumes (i.e. data at previous year's prices, linked over the years via appropriate growth rates). Growth rates 'q/q-1 (sca)' with respect to the previous quarter and 'q/q-4 (sca)' with respect to the same quarter of the previous year are calculated from calendar and seasonally adjusted figures while growth rates 'q/q-4 (nsa)' with respect to the same quarter of the previous year are calculated from raw data.