Business investment continues to decline

The
prolonged decline in UK business investment has continued into the third
quarter of 2002, according to the latest provisional figures.

Business
investment fell by 2.8 per cent between the second and third quarters of 2002 –
the seventh consecutive drop – with the decline 12.4 per cent compared to the
same quarter last year.

Figures
from the Office for National Statistics show that the decline was seen in both
manufacturing and service sectors.

Over
the year manufacturing investment fell by 11.7 per cent and service investment
by 13.7 per cent.

www.statistics.gov.uk

By Ross Wigham

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