In the second quarter of 2002, enterprises invested 3.5% less in their fixed capital formation than they did last year. This means that investments are falling more rapidly.
The situation is even bleaker when the positive influence of a few major one-off investment projects is taken into account. When these projects are not considered, investments are down by 3.6% in the first quarter and by 5.4% in the second quarter.
Moreover, less was invested in housing, computers, road transport and airplanes during the second quarter. The growth of investments in commercial property came to a standstill. The same is true for investments in software and other immaterial capital goods.
Investments in infrastructure are still high, but lower than a year ago. Important here are certain large, long-term railway projects such as the construction of the Betuwelijn and the High Speed track.
There were greater investments in machinery and installations that a year ago, but this is mainly because a large chemical plant came into operation.