A draft working paper with Josh Martin. Comments welcome.
Economic inactivity and the labour market experience of the long-term sick
Friday, 22 July 2022
Monday, 21 February 2022
Prospects for business investment
The latest ONS business investment data, chained volume indices show
What do we make of this?
1. Overall investment took a beating in the financial crisis, then recovered. But it stalled again post the 2016 Brexit referendum. It collapsed in the pandemic, and has not recovered.
2. The lack of recovery is mainly due to the fall in buildings, which has hardly recovered at all.
3. IPP and ICT investment has stayed flattish and recovered respectively.
4. Transport equipment, which is very volatile anyway has continued on a downward trend.
5. Over the longer term, the constant is rising IPP investment. ICT investment is not even back to pre-financial crisis levels. Buildings is back to 1997 levels.
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