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Business investment 1.2% lower than previous quarter

Released: 27 February 2013 Download PDF

Business investment

Decreased by 1.2% between Q3 2012 and Q4 2012

Business investment - Q4 2012 provisional results
Source: Quarterly Survey of Capital Expenditure - Office for National Statistics

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These are provisional results for Q4 2012.

Business investment for Q4 2012 was estimated to be 1.2% lower than the previous quarter at £30.9 billion, and 0.4% higher than the same period last year.

Business investment between Q3 2012 and Q4 2012 saw little change in private sector manufacturing at £3.3 billion. The main changes in private sector manufacturing were primarily in metals and metal goods and engineering and vehicles, both decreasing by £150 million (24.1% and 14.0% respectively), partially offset by increases in food, drink and tobacco, up £100 million (22.8%) and other manufacturing, up £100 million (21.0%).

Business investment in total non-manufacturing saw a decrease of £300 million to £27.6 billion (1.2%) between Q3 2012 and Q4 2012. The decreases were primarily in private sector non-manufacturing construction, down by £800 million (33.7%). This was partially offset by an increase in other services, up £750 million (5.6%).

Source: Office for National Statistics

Background notes

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

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

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

  4. 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 Q4 2010 and the low level of aircraft imports for Q1 2011.

  5. Details of the policy governing the release of new data are available by visiting or from the Media Relations Office email:

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