UK INVESTMENT DOWN
Investment by British companies slowed in the final quarter of 2014, official data showed Thursday, as the fall in oil prices drove the North Sea extraction industry to cut down spending on infrastructure.
Business investment shrank 1.4% compared with the third quarter, according to the Office for National Statistics, the second quarterly fall in a row and the biggest slump in more than five years. Year-over-year, growth was 2.1%, the slowest since early 2010.
The decrease was driven by the oil extraction industry in the North Sea reducing its investments in equipment such as oil platforms, the ONS said, as…
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