Annual average growth in real investment spending for the UK, Euro Land and the United States for five separate periods are shown in the chart above. Total investment spending in the period 1996-01 for the UK has grown more strongly that in other periods (the 1991-95 period includes the years in which the British economy was last in recession). This should help to improve our economic performance in the long run. Notice though how strong total investment has been in the United States in recent years. Much of the investment boom has been concentrated in new economy sectors such as telecoms, media and technology (TMT).