Business investment in Britain rose 1.7 per cent in the second quarter of this year to leave it 4.2 per cent up on the same period a year earlier, official data showed today
The Office for National Statistics said business investment stood at £30.050 billion in the three months to June. That compared with an upwardly revised £29.545 billion in the three months to March.
A first estimate showed Britain's economy grew 0.8 per cent in the second quarter, its fastest pace in two years. Revised figures will be published tomorrow.
A breakdown showed the service sector benefited more than manufacturing over the quarter, with investment in manufacturing falling after a strong first quarter.
Manufacturing investment fell by 12.6 per cent from the previous quarter and 8 per cent from the same period a year ago, while private sector investment in services was up 3.5 per cent on the previous quarter and 5.5 per cent on the same quarter a year ago.