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Summary: Business Investment, Q3 2011 Revised Results

Released: 22 December 2011 Download PDF

Business investment 0.3 per cent higher in third quarter of 2011

Business investment Q3 2011 Revised Results
Source: Quarterly Survey of Capital Expenditure - Office for National Statistics

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These are revised results for the third quarter of 2011.

Business investment for the third quarter of 2011 was estimated to be 0.3 per cent higher than the previous quarter at £30.1 billion and was 4.3 per cent higher than the same period last year.

The quarterly increase in business investment was mainly driven by private sector manufacturing, up by 6.0 per cent to £3.7 billion. This increase was mainly due to engineering and vehicles which increased by 31.0 per cent to £1.4 billion.

Partially offsetting the increase in private sector manufacturing is total non-manufacturing, down by 0.5 per cent to £26.4 billion. This was mainly driven by other services, down by 3.0 per cent to £15.1 billion, and distribution services, down by 8.7 per cent to 2.8 billion. These falls were partially offset by an increase in other production, up by 10.2 per cent to £5.7 billion.

Compared with the third quarter of 2010, total business investment increased by 4.3 per cent in the third quarter of 2011. This was due to increases in both private sector manufacturing, up by 21.8 per cent to £3.7 billion and total private sector non-manufacturing, up by 2.4 per cent to £25.3 billion.

Source: Office for National Statistics

Background notes

  1. In line with the revisions policy used for national accounts this month, this publication includes revisions from the first quarter of 2010.

  2. Unless otherwise specified, growth refers to a comparison between the latest quarter and the previous quarter. Sometimes this is referred to as quarterly growth.

  3. Annual growth refers to a comparison between a quarter and the same period in the previous year.

  4. Unless otherwise specified, figures discussed are in chained volume terms and seasonally adjusted.

  5. 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.

  6. Details of the policy governing the release of new data are available by visiting www.statisticsauthority.gov.uk/assessment/code-of-practice/index.html or from the Media Relations Office email: media.relations@ons.gsi.gov.uk

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