British companies cut investment spending

Manufacturing News, Source : TheManufacturer.com
Published : 27 Nov 2002 9:45
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Fears surrounding the stability of the world’s economy are forcing British companies to reduce their spending on investment at the fastest rate ever.

The manufacturing sector is leading the way with firms cutting investment by 12 per cent in the last year, the fastest annual rate since records began in 1965. Yesterday industry leaders expressed their concern when Digby-Jones, the CBI’s director-general said, “Investment goes hand in hand with profitability. The figures clearly demonstrate the pressure on UK business.”

 

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