WASHINGTON, March 28, 2013 /PRNewswire-USNewswire/ -- Information and Communication Technology — These statistics estimate capitalized and noncapitalized spending in 2011 for Information and Communication Technology (ICT) equipment and computer software at the sector level, as well as at the North American Industry Classification System three-digit and selected four-digit industry level. The estimates provide policymakers and the private sector with a relevant, timely and more accurate measure of U.S. companies' total investment in ICT equipment.
These statistics are important for federal agencies to assess future productivity and economic growth prospects, and reconcile important differences between reported production and consumption of technology. Rapid changes in ICT equipment result in these assets having shorter useful lives and being replaced at a much faster rate than other types of equipment. As a result, rather than capitalizing the value of such assets and expensing the cost over two or three years, companies often expense the full cost of such assets during the current annual period. Statistics based only as capitalized expenditures may substantially underreport ICT spending. Internet address: http://www.census.gov/econ/ict/.
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SOURCE U.S. Census Bureau