Business investment sees 0.8% rise in second quarter of 2007

Business investment has seen a 0.8% rise in the second quarter of 2007, estimated to be 7.4% higher than the same period of last year.

The Office for National Statistics’ Business Investment survey said the quarterly rise is due to increased capital spending by non-manufacturing industries in the private and public sector.

The quarterly fall in private sector manufacturing investment was due to lower capital expenditure in other manufacturing industries (down 5.8%), engineering and vehicles industries (down 14.2%), and metals and metal goods industries (down 16.8%).

But other sectors were on the up, including higher investment within solid and nuclear fuels, oil refining industries (up 11.3%), food, drink and tobacco industries (up 9.0%), textiles and clothing industries (up 6.9%), and chemicals industries (up 0.8%).

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