According to the report from Office for National Statistics, the net rate of return for private non-financial corporations (PNFCs) stood at 9.3% in Quarter 4 (Oct to Dec) 2019, down from the revised estimate of 9.8% for Quarter 3 (July to Sept) 2019.

The net rate of return for manufacturing companies fell to 9.4% in Quarter 4 2019, down 1.5 percentage points from the previous quarter's revised net rate of return of 10.9%.

The net rate of return for services companies stood at 14.9% in Quarter 4 2019, a decrease of 0.2 percentage points from the revised estimate of 15.1% in Quarter 3 2019.

The net rate of return for UK continental shelf (UKCS) companies fell to 1.8% in Quarter 4 2019, down from the revised estimate of 2.4% in Quarter 3 2019.

"A rise in the net capital employed coupled with a fall in the net operating surplus led to the downward movement in the net rate of return," the Office for National Statistics said.