UK MANUFACTURERS REDUCE SPENDING

UK MANUFACTURERS REDUCE SPENDING

Capital expenditure by U.K. manufacturing industries fell by 0.6 percent in the fourth quarter of 1991 from the previous quarter, the Central Statistical Office said Thursday.

Capital expenditure was 14 percent lower than spending in the fourth quarter of 1990, when it totaled $5.29 billion (UK2.96 billion).Spending for the whole of 1991 was 15 percent lower than in 1990, the CSO said.

Within the 1991 total, spending on new vehicles fell by 39 percent, spending on plant and machinery was down 15 percent and spending on new building work dropped by 9 percent from 1990 levels.