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Industry investment in R&D has grown for the eighth year in a row in the EU, but the European Commission has warned that the bloc is failing to keep pace with global competition.
Companies’ R&D spending in the EU grew by 5.5 per cent in 2017, the Commission announced on 17 December. The growth was driven by automotive, health and ICT companies, it said.
However, EU growth was down on the 6.7 per cent increase recorded in the bloc in 2016. It was also lower than the 9 per cent growth in investment by companies in the United States and the 20 per cent increase by companies in China.
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