Business Investment, Q1 2012 - Provisional Results Summary

Business Investment Q1 2012 provisional

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The rise in business investment between the fourth quarter of 2011 and the first quarter of 2012 was driven by private sector non-manufacturing which rose by £0.8 billion to £26.1 billion (3.3 per cent). This was due to an increase in other production, up £1.1 billion to £7.0 billion (17.8 per cent). See reference table 1 for more detail.

The £1.1 billion increase in other production was driven by electricity, gas and water, which rose by £0.6 billion to £3.3 billion (21.1 per cent) and mining and quarrying, up £0.4 billion to £2.9 billion (15.2 per cent). See reference table 6 for more detail.

Business investment in private sector manufacturing rose by £0.2 billion to £3.7 billion (5.2 per cent) compared with the previous quarter. This was due to small rises in five out of seven industries. Both the chemicals and man-made fibres and textiles, clothing and footwear industries reported falls into the quarter.

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 2011.

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