27 Mar 2015

Firms spend more on research and development

2:01 pm on 27 March 2015

Businesses are spending more on research and development, with growth being led by computer services.

Official figures show firms spent $1.25 billion on R&D in 2014, an increase of 5 percent when compared with 2012.

Statistics New Zealand said the greatest increase came from the services industry, partly offset by decreases in the primary and manufacturing sectors.

Computer services is the biggest spender, surpassing machinery and equipment manufacturing.

Total spending edged down slightly to $2.62 billion, due to less R&D by Government bodies and universities.

More firms conducted R&D and almost half of firms surveyed expect to increase that, while another third intend to keep it at similar levels.