UK business investment revised higher
Revised figures from the Office for National Statistics released today have revealed a big increase in UK business investment in the fourth quarter of last year.
Business investment increased by 1.8% in the last three months of 2007 for a 5.3% annual improvement, according to the statistics office.
Original estimates were for a 0.5% decline and 1.7% increase year on year, but experts are unsure whether tomorrow's fourth quarter GDP figures will be revised higher as a result.
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Total business investment during the period hit £36.72bn, up from £36.06bn in the previous quarter.
But most economists still think the Bank of England will cut interest rates further over the coming months on expectations that business investment will slow as the credit crunch makes it increasingly difficult for companies to borrow.
