BoE's Broadbent says sees signs business investment picking up

Reuters    Translate This Article
15 April 2014

LONDON (Reuters) - Bank of England policymaker Ben Broadbent said on Tuesday he is seeing signs that British businesses are investing more as the economy recovers.

In an interview with BBC Radio Lancashire, Broadbent said there were signs of growth in 'pretty much every sector', with car sellers, [and] construction companies among those leading the way.

'(Businesses) are prepared to make the investment decisions that they wouldn't have done two or three years ago when they were worried about whether growth was going to return, what was going to happen in the euro zone and so forth,' said Broadbent, who will become a deputy governor of the central bank in July.

Consumer spending and an upturn in the housing market have been the main drivers of Britain's recent economic revival, and the Bank of England has said a pick-up in exports and business investment are necessary to make the recovery sustainable.

(Reporting by Andy Bruce, Editing by Belinda Goldsmith)

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