Manufacturing investment falls again
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 25 Sep 2007 11:21
Although investment in the manufacturing sector has continued to fall, with the metals, textiles and clothing industries leading the plunge, figures issued today by the ONS show that it is still above the level recorded a year ago.
New figures published today by the Office for National statistics show that, set against a rise of 7.8 per cent in overall business investment during the second quarter of 2007, investment in the private manufacturing sector has again fallen.
The downward trend was led by the metals and metal goods industries, and the textiles and clothing industries, which recorded a drop of 21.9 per cent in investment, while the engineering and vehicles industries’ investment fell by 16.7 per cent. Offsetting this, the food, drink and tobacco industries increased investment by 7.5 per cent, and chemicals and man made fibres industries by 4.5 per cent.
By asset, the ONS reported that the fall in private sector manufacturing investment was drive by lower capital expenditure on vehicles, down 11.3 per cent, and other capital equipment down 8.3 per cent. This was partly offset, it said, by higher investment in new building work – 10.3 per cent.
However, when comparing the figure with the second quarter of 2006, private sector manufacturing rose by 1.4 per cent.
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Manufacturing is to begin again at Fort Dunlop
MANUFACTURING: Refurbished landmark industrial...
more…
McCain’s is to migrate to wind power
FOOD: Turbines to provide over half annual power...
more…
New president of the SBAC defends the right to fly
AEROSPACE: Entering a defining period where...
more…
Sheffield Forgemasters
Sheffield Forgemasters is to give its 700-strong...
more…
SSL International
SSL International, which manufactures Durex...
more…
no comments yet...