BoE’s Ramsden highlights unusual patterns of investment and hiring
Weak investment in capital could exacerbate UK’s productivity woes, deputy says
The UK is experiencing unusual patterns of labour and capital investment among firms, which could tell a deeper story about the country’s productivity weakness, the Bank of England’s Dave Ramsden said today (May 30).
Usually, investment in capital goes hand in hand with greater hiring of workers, the deputy governor said in remarks at the Inverness Chamber of Commerce. But recent data for the UK shows firms are cutting their capital goods investments while increasing hiring.
Ramsden suggested
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