Pandemic’s investment in technology solves productivity problem | Business
Companies are adapting to the new post-pandemic business environment by investing heavily in new technologies that could help lift the country’s weak levels of productivity.
Although overall business investment fell during the pandemic, investment in machinery and information and communication technology rose by more than 7 per cent between the final quarter of 2019 and the second quarter of this year.
Businesses invested heavily in digital technologies at the start of the crisis to cope with new remote working and social distancing requirements. While some believed this would be temporary, figures from the Office for National Statistics show that investment in new technologies is continuing to rise.
These types of investments grew by another 4 per cent in the second quarter as Britain started
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