0.3% rise in third quarter 2005
Total Business Investment percentage change, quarter on corresponding quarter of previous year (1980 Q1 to 2005 Q3)
The revised estimate of business investment for the third quarter of 2005 shows annual growth of 1.2 per cent when compared with the same period of last year. This is a downward revision from 1.9 per cent previously published. Business investment quarterly growth is unrevised at 0.3 per cent.
The quarterly rise in business investment is due to increased capital spending by industries classified as other services and construction. This increase was offset by falls in investment by distribution, manufacturing and other production industries.
The quarterly rise in private sector other services investment is partly due to increased capital spending by the transport and communications industry.
The quarterly fall in private sector manufacturing investment stems predominantly from lower capital expenditure by the engineering and vehicles industry (down 6.5 per cent), although this has been revised up from a fall of 10.7 per cent previously published.
Compared with the third quarter of 2004, total manufacturing investment rose by 5.8 per cent, construction and other production rose by 1.5 per cent and services rose by 0.4 per cent.
Notes: This release contains revisions back to the beginning of 2004. Unless otherwise specified, growth refers to a comparison between the latest quarter and the previous quarter. Sometimes this is referred to as quarterly growth. Annual growth refers to a comparison between a quarter and the same period in the previous year. Unless otherwise specified, figures discussed are in chained volume terms and seasonally adjusted.