UK revises up business investment following data error: ONS

FILE PHOTO: A general view of the Canary Wharf financial district in London
FILE PHOTO: A general view of the Canary Wharf financial district in London, Britain April 25, 2021. Picture taken April 25 with a drone. REUTERS/Kevin Coombs

November 19, 2021

LONDON (Reuters) – Britain revised up its estimates for business investment in the second and third quarters of this year after its statistics agency identified an error, it said on Friday.

The level of business investment in inflation adjusted terms was revised up by 1.6 and 1.0 percentage points for the second and third quarters, the Office for National Statistics said.

It cited an error involving transport investment data and said the revisions would not affect existing readings for economic growth.

(Reporting by Andy Bruce; editing by Michael Holden)