While overall business investment as a percent of GDP has been on a decline, investment in intangible property products is contributing more to real GDP than it has in almost nine years. Intangible property products contributed 34 bps to real GDP during the second quarter. This is the largest contribution since 3Q 2006. Real investment in IP is currently growing at 7.35% year-0ver-year rate which is the quickest pace since 2005. It is currently growing at a pace that is twice as fast as real investment in equipment. Real investment in structures actually declined over the past year.