LONDON (Reuters) – The number of new foreign investment projects in Britain has fallen for the second year in a row, according to government figures published on Wednesday that added to other signs of nervousness about Brexit among investors.
The number of new investments fell by 12 percent to 1,035 in the 2018/19 financial year and expansions of existing projects fell by 22 percent to 554, according to the data from the Department for International Trade.
That reduced the number of new jobs created by foreign investment during the year to 57,625, down 24 percent from 2017/18.
Last week, a survey by consultants EY showed long-term investor sentiment about Britain was at an all-time low as the country’s Brexit crisis dragged on.
Britain’s trade minister Liam Fox said the country remained the number-one destination for foreign direct investment (FDI) in Europe, accumulating more FDI stock than Germany and France combined.
The United States was the biggest source of FDI in Britain, followed by Germany and India in terms of the number of investments made.
Wednesday’s data showed the number of mergers and acquisitions in Britain rose 8 percent to 193 in the 2018/19 financial year which ended in March.
(Writing by William Schomberg; editing by Stephen Addison)