Business investment in the UK dropped by 10.4 percent in the
second quarter of 2009 compared to the previous quarter, the UK’s
Office of National Statistics (ONS) has said.
Compared with the same period one year ago, the decline was of
18.4 percent, which is the biggest drop ever recorded by the
ONS.
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The reduced capital expenditure was evident in most sectors,
with a peak in the manufacturing industry, which invested 16.8
percent less than the previous quarter.
In particular, on a quarterly basis the largest fall in capital
spending occurred in industries within food, drink and tobacco
(down 20.8 per cent), engineering and vehicles (down 24.2 per cent)
and textiles, clothing, leather and footwear (down 25 per
cent).
Antonio Fabrizio
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