UK top in Europe for foreign investment

LONDON

A study by accountant firm Ernst & Young shows that Britain remained Europe's top destination for foreign direct investment in 2009 -- attracting more than a fifth of all new projects in the region.

The survey out Wednesday reveals investors have largely not been put off by Britain's worst recession since World War II.

Britain attracted 678 investment projects last year -- just 1 percent less than in 2008. The U.S. was the biggest investor.

But the Europe-wide economic downturn has taken a heavier toll, with investment across the region declining 11 percent. Automotive, mining and transport projects were all significantly down, while more recession-proof industries such as food, pharmaceuticals and electrical goods showed growth.