Alongside the output-based GDP estimate summarised in last week’s edition of Economic News, the ONS also releases initial investment figures, though only at a top level. These indicate that total business investment (seasonally adjusted) was -0.3% lower than in the second quarter of the year but +0.7% higher than in the same quarter a year earlier (Q3-2024); the four-quarter rolling trend stood at +2.8%.
Total business investment is broken down by five categories of asset type. “ICT equipment & other machinery & equipment” (ICT&OM) is the most relevant for manufacturing; the others are transport equipment (including new aircraft), dwellings, other buildings & structures, and intellectual property products.
On a seasonally adjusted basis, ICT&OM spending in the third quarter was +10.1% higher than in the second quarter and +9.0% higher than a year earlier, with the four-quarter moving total rising +2.3%. Because ICT&OM grew more strongly quarter-on-quarter than total investment, this asset group accounted for 27.6% of business investment in Q3-2025 – the highest share since Q1-2022.
You can download the ONS Statistical Bulletin on productivity from their website at https://www.ons.gov.uk/releasecalendar (13 November) or request if from MTA.