These are revised results for the first quarter of 2012.
Business investment for the first quarter of 2012 was estimated to be 1.9 per cent higher than the previous quarter at £30.5 billion, and 14.8 per cent higher than the same period last year.
Business investment between the fourth quarter of 2011 and the first quarter of 2012 saw increases in private sector non-manufacturing, which rose by £0.6 billion to £26.1 billion (2.2 per cent). Within this there was an increase in other production, up £0.6 billion to £6.6 billion (10.3 per cent).
The £0.6 billion increase in other production saw increases in electricity, gas and water, which rose by £0.3 billion to £3.1 billion (12.2 per cent) and mining and quarrying sector, by £0.3 billion to £2.9 billion (10.5 per cent).
Business investment in private sector manufacturing saw little change compared with the previous quarter at £3.5 billion (-0.3 per cent). There was a fall of £0.2 billion in the engineering and vehicles industry which was offset by smaller rises in the food, drink and tobacco and metal and metal goods industries.
Compared with the first quarter of 2011, business investment in private sector non-manufacturing rose by £3.5 billion. This reflects a rise of £2.2 billion in other services and a rise of £1.3 billion in other production. The rise in other services saw increases in financial intermediation, by £1.0 billion and smaller increases across all the other industries. The rise in other production saw increases in mining & quarrying, by £1.0 billion and electricity, gas & water, by £0.3 billion.
Source: Office for National Statistics
Unless otherwise specified, growth refers to a comparison between the latest quarter and the previous quarter. Sometimes this is referred to as quarterly growth.
Annual growth refers to a comparison between a quarter and the same period in the previous year.
Unless otherwise specified, figures discussed are in chained volume terms and seasonally adjusted.
On 1 January 2011 a change was made to the zero-rating of VAT on qualifying aircraft. This may have contributed to the high level of aircraft imports for 2010 quarter four and the low level of aircraft imports for 2011 quarter one.
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