World Economy

UK Investment Falls

UK Investment FallsUK Investment Falls

Business investment in Britain fell in annual terms between January and March, Euronews reported. It was the first such decline in three years and comes amid uncertainty around the vote on whether the UK stays in the European Union. Business investment was down 0.4% year-on-year after rising a full 3% in the final three months of last year. The Office of National Statistics said the fall was driven by weaker investment in offices and other non-residential buildings. Consumer spending has been the main driver of Britain’s recovery from the financial crisis and policymakers have said they want to see greater investment by businesses to secure a more balanced economy.