Record age of U.S. assets is seen as investment catalyst
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“New investment is certainly needed” in the U.S. and faster inflation may serve as a catalyst, according to Bank of America Corp.’s research investment committee. The panel raised the issue in a report last week that cited annual data on the country’s capital stock: offices, machinery and other fixed assets, along with consumer goods such as autos and appliances. The figures, compiled annually by the Commerce Department, shows the average age of those assets has risen every year since 2001 and has set records since 2014. Last year’s average was 22.4 years, exceeding a peak reached in 1940 by 8.7%.