Foreign Investment in U.S. Plunged 32% Last Year to $260 Billion

(Bloomberg) -- Foreign direct investment in the U.S. fell 32 percent to $259.6 billion in 2017 on a plunge in acquisitions of existing businesses, according to government data.

The largest source country was Canada, with spending of $66.2 billion, followed by the U.K., Japan, and France, the Commerce Department said in a statement Wednesday.

California was the top destination state at $41.6 billion, followed by Texas and Illinois. By industry, the largest share of investment went to manufacturing, which had $103.7 billion, or 40 percent, preliminary data for last year showed.

©2018 Bloomberg L.P.