UK business investment fell in the third quarter, but was £2.4bn higher than its pre-downturn high recorded in mid-2008.
The Office for National Statistics bulletin revealed investment reached £44.4bn in Q3 2014, 5.2 per cent higher than the same period in 2013, but 1.4 per cent lower than the previous quarter.
This includes spending on ICT, machinery and equipment, cultivated assets, intellectual property products and buildings.
“Net investment in ICT equipment and other machinery and equipment increased by an estimated £100,000 in Q3 2014 compared with the previous quarter. This was offset by a decrease in intellectual property products, largely caused by a decrease in software which has fallen from a series peak at the start of the year,” said the release.
Intellectual property products had the largest quarter on quarter decrease in Q3 2014, decreasing by an estimated £0.2bn (1.3 per cent).
The largest contribution to acquisitions and disposals of assets businesses was those with more than 300 employees, which accounted for an average of two-thirds of all acquisitions over the last three years.
Acquisitions per employment are fairly consistent across business size, averaging around £2,000 per employment per quarter.
The ONS wider measure of Gross Fixed Capital Formation includes business investment, public sector spending and private sector dwellings.
GFCF was estimated to have increased by £0.1bn to £72.9bn (0.1 per cent) compared with Q2 2014 and 6.4 per cent compared with the same period in the previous year.
Business investment accounts for 61 per cent of GFCF in the third quarter, the second largest category was private sector dwellings at 19 per cent and £14bn.
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