Thursday, the Office for National Statistics said UK's total business investment declined 1.5% sequentially to GBP 34.95 billion in the final three months of 2008, revised up from a 3.9% fall reported initially.

Year-on-year, business investment declined 4.5% in the fourth quarter, upwardly revised from a 7.7% drop estimated earlier.

The ONS also revised the third quarter data. The latest report showed investment falling 0.8% in the third quarter compared with the preliminary estimate of a 2.1% slide. Year-on-year, investment was flat in the third quarter, versus an earlier estimate of a 1.8% fall.

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