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Total business investment in the UK dropped a seasonally adjusted 10.2% sequentially in the second quarter, better than a 10.4% fall estimated previously. Economists expected the decline to be 10.4%. In the first quarter, investments were down a revised 8.9%.
In the manufacturing sector, business investments fell 16.2%, faster than a revised 4.6% fall in the first quarter. In the non-manufacturing sector, investments fell 9.5%, quicker than a 9.4% drop in the first quarter.
On a yearly basis, business investments fell 21.8%, worse than an 18.4% drop estimated previously, and steeper than a revised 9.8% fall in the first quarter. Economists expected the decline to remain at 18.4%.
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