(MENAFN) Data from Office for National Statistics (ONS) showed that British business investment decreased in the fourth quarter at its sharpest rate in nearly six years, Xinhua reported.

Business investment was estimated to have fallen by 1.4 percent in the fourth quarter of 2014. A large part of the fall in business investment came from a fall in investment by the oil and gas extraction industry.

"The picture for investment disappointed, with total investment dropping 0.5 percent on a quarterly basis, while business investment saw its biggest fall since Q2 2009," said senior economic adviser to the EY ITEM Club.