These are provisional results for the second quarter of 2012.
Business investment for the second quarter of 2012 was estimated to be 1.5 per cent lower than the previous quarter at £30 billion, and 1.7 per cent higher than the same period last year.
Business investment between the first quarter of 2012 and the second quarter of 2012 saw a decrease in private sector non-manufacturing by £0.9 billion to £25.3 billion (-3.3 per cent). This decrease in non-manufacturing was primarily in other services, down £1.1 billion to £14.9 billion (-6.8 per cent). The fall in other services is partially offset by an increase in distribution services, up £0.2 billion (6.4 per cent).
The £1.1 billion decrease in other services saw decreases in transportation and storage, which fell by £0.3 billion to £3.1 billion (-9.5 per cent), information and communication, which fell by £0.3 billion to £2.9 billion (-9.4 per cent) and hotels & restaurants, which fell by £0.2 billion to £1.0 billion (-13.4 per cent).
Business investment in private sector manufacturing rose by £0.2 billion to £3.7 billion (5.5 per cent) when compared with the previous quarter. There was an increase of £0.1 billion in engineering & vehicles (13.3 per cent) and an increase of £0.1 billion in chemicals & manmade fibres (23.6 per cent).
Compared with the second quarter of 2011, business investment in private sector non-manufacturing fell by £0.1 billion (-0.3 per cent). This reflects a fall of £0.5 billion in construction (-28.9 per cent), which is partially offset by a rise of £0.6 billion in other production (9.6 per cent).
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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