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Third quarter UK business investment data disappoints

FXStreet (London) - The provisional reading of UK business investment in the third quarter indicated that business investment decreased by an estimated £0.3 billion – down 0.7 percent - compared with the second quarter of 2014. However, it increased 6.3 percent year-on-year.

The preliminary reading from the UK office for National Statistics missed consensus expectations of a 2.3 percent quarter-on-quarter gain and a 9.7 percent gain year-on-year.
Intellectual property products had the largest quarter on quarter decrease by an estimated GBP0.6 billion (-3.6 percent), with decreases in software and mineral exploration.

Third quarter business investment was estimated at GBP44.6 billion. It is estimated to be GBP2.6 billion higher than its pre-downturn peak in the second quarter 2008.

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