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The latest economic data
Capital investment
According to Statistics Canada’s survey of capital spending inten-
tions, Canadian businesses will invest a total of $339.5 billion in 2008: $120.9 billion in machinery and equipment and $218.5 billion in non-residential construction.
Manufacturing investment
The same survey shows Canadian manufacturers will invest $19.7 billion in their plants and equipment in 2008. About $17 billion will go to technology and $2.7 billion to new facilities. Total manufacturing investment is expected to be 7.6% higher this year than in 2007.
Machinery and equipment investment by province
The survey also showed businesses in Ontario and Alberta will
invest the most money in machinery and equipment in 2008. Ontario
will account for 38% of investments, while Alberta will account for 23
per cent.
Growth in machinery and equipment investment by province
The total investment in machinery and equipment is expected to increase by 5.7%, with manufacturers’ share rising 6.3 per cent. The
strongest growth in manufacturing investment will occur in BC, Saskatchewan and Quebec. Overall investment in new technology is likely to be strongest in Alberta, Saskatchewan and Manitoba, the survey found.
Growth in machinery and equipment investment by sector
Capital investment in machinery and equipment will show the strongest growth in mining, oil and gas, utilities and information industries
sectors.
Trends information is provided by Plant, Canada’s Industrial News-
paper. Source: Jayson Myers, president and chief economist with
Canadian Manufacturers and Exporters. Purchasingb2b and Plant are
both published by Rogers Media.
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