Business investment for the first quarter of 2008 was 1.8 per cent lower than the previous quarter and is estimated to be 4.5 per cent higher than the same period of last year. The quarterly fall in business investment is due to reduced capital spending by industries classified within private sector and public corporations non-manufacturing. Within private sector non-manufacturing industries, there was reduced investment in distribution services (down 12.8 per cent) and other production (down 10.6 per cent), but increased investment within construction (up 6.7 per cent) and other services (up 3.1 per cent). Investment by industries within public corporations fell by 14.9 per cent. Total manufacturing investment for the first quarter of 2008 fell by 6.7 per cent over the previous quarter. This fall was entirely within private sector manufacturing investment (down 6.8 per cent) with a slight offsetting increase from public corporations. By asset, the fall in private sector manufacturing investment (down 6.8 per cent) was driven by lower capital expenditure for new building work (down 19.6 per cent).
Leave a comment
No comments yet.