BUSINESS investment in the second [...]; Business IN BRIEF.BUSINESS investment in the second quarter has plunged by the fastest annual rate since records began 42 years ago. Office for National Statistics figures estimated investment by UK businesses - in anything from IT to building works - fell 18.4 per cent to pounds 29.89billion. The figure was also 10.4 per cent lower than the previous quarter at the height of the UK recession, which was a 24-year record quarterly drop. ONS ONS Office for National Statistics (UK) ONS One Night Stand ONS Onslaught (Unreal Tournament 2004) ONS Oncology Nursing Society ONS Object Naming Service ONS Offshore Northern Seas data showed that the manufacturing industry reined in capital outlay capital outlay See capital expenditure. most, down 16.8 per cent, with other private sector businesses down 9.7 per cent and corporations showing a 7.2 per cent drop. Among those to cut spend heavily were engineering firms and vehicle manufacturers. The figures raised fears ahead of today's second estimate of GDP GDP (guanosine diphosphate): see guanine. for the second quarter. Alan Monks, at JP Morgan Chase, said it challenged the view spending would grow in the third quarter. |
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