FXstreet.com (Barcelona) - Business investment declined 1.8% in the first three months of the year in the UK, while it increased 4.5% from the same month last ear, according to data released by National Statistics.

The main reason for the quarterly decline has been, according to the British Statistics Office, due to reduced capital spending by industries doth private ad public, with a 12.8% reduction in distribution services investment, and 10.6% reduction in other production, however, investment increased 6.7% in construction, and 3.1% in other services. Investment by public corporations declined 14.9%.

Manufacturing investment fell by 6.7% in the first quarter, a decline seen entirely within the private sector; 6.8% down, slightly offset by increase from public corporations.