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Release: Business Investment, Q4 2012 - Revised Results

Released: 27 March 2013 Next edition: 27 June 2013

Contact

Louisa Nolan

Gross Capital Formation

gcf@ons.gsi.gov.uk

Telephone: +44 (0)1633 455250

Categories: Economy, National Accounts, National Income, Expenditure and Output

Frequency of release: Quarterly

Language: English

Geographical coverage: UK

Geographical breakdown: UK

Survey name(s): Quarterly Survey of Capital Expenditure

  • Business investment estimates are a short term indicator of the spending on assets, such as buildings, vehicles and machinery, by manufacturing and non-manufacturing businesses in the United Kingdom. Business investment excludes spending on dwellings.

  • All business investment data referred to in this bulletin are seasonally adjusted chained volume measures. In addition, current price and non-seasonally adjusted data are available in the timeseries data set.

  • Business investment was estimated to have decreased by nearly £250 million to £30.9 billion (0.8%) when compared with the previous quarter.

  • Total non-manufacturing investment decreased by nearly £260 million to £27.7 billion (0.9%) when compared with Q3 2012. The main downward contributions came from other services and construction, partially offset by increases in other production and distribution services.

  • Business investment in private sector manufacturing was little changed in Q4 2012 compared with the previous quarter, remaining at around £3.2 billion. 

  • Business investment increased by almost £260 million (0.8%) when compared with Q4 2011.

  • Compared with Q4 2011, estimates of total non-manufacturing investment increased by just over £350 million (1.3%) while total manufacturing investment decreased by nearly £100 million (2.9%).

  • Annual total business investment increased by 4.9% in 2012 , compared with 3.1% in 2011 and a 0.4% fall in 2010.

  • Other production increased by 35.8% in 2012, compared with 16.1% in 2011 and a fall of 23.8% in 2010.

  • As previously announced there are larger than usual revisions to business investment sectors in this release, largely due to a review of seasonal adjustment. Further details can be found within the statistical bulletin under the revisions section.

  • The article GDP continuous improvement: summary of improvements to the estimation of gross fixed capital formation in the UK National Accounts summarises the upcoming improvements to the estimation of gross fixed capital formation (GFCF), and its key component, business investment in 2013. These developments are part of the programme of continuous improvement to the UK National Accounts, which are produced by the Office for National Statistics (ONS). The purpose of this article is to give an overview of planned improvements and a timetable for the releases on which the changes will have an impact. A fuller description of the methodological changes and their impact on GFCF and business investment estimates will be published in June 2013, following completion of quality assurance procedures.

    In order to: 

  • allow time to complete quality assurance of the new production system;
  • review and improve the way the data are published to better meet user needs; and
  • avoid the introduction of revisions to the detailed business investment series due to the implementation of methodological changes between the publication of the provisional and revised results,

    it is unfortunately necessary to withdraw publication of the statistical bulletin Business Investment, provisional results: Quarter 1, 2013. ONS apologises for any inconvenience this may cause.

Commentary and tables on investment trends by businesses. Contains capital expenditure data for various sectors of the economy at current prices, constant prices and seasonally adjusted.
Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.