Consumption of fixed capital means

the wearing out, depreciation, or obsolescence of fixed assets, such as buildings, machinery, equipment, vehicles, and infrastructure, used in the production process. It represents the decrease in value or usefulness of these assets over time due to normal wear and tear and technological advancements. This decrease in value is accounted for as an expense in the income statement and is deducted from the gross domestic product (GDP) to calculate the net domestic product (NDP).