Investment in construction, machinery to rise this year: StatsCan
Signage marks the Statistics Canada offices in Ottawa on Wednesday, July 21, 2010. (Sean Kilpatrick / THE CANADIAN PRESS)
The Canadian Press
Published Wednesday, February 26, 2014 10:05AM EST
OTTAWA -- Statistics Canada says public and private organizations and the housing sector intend to invest $404.5 billion in construction and machinery and equipment in 2014, up 1.4 per cent from 2013.
The agency says the principal drivers for the increases are investments in investment in the transportation and warehousing, housing and public administration sectors.
However, these gains will be partially offset by anticipated declines in investments by organizations in the utilities, retail trade and health care and social assistance sectors.
Capital investment in the private sector, including housing, is expected to reach $315.2 billion in 2014, up 1.3 per cent from 2013.
Investment in non-residential construction, which represents more than 62 per cent of total investment excluding housing, is expected to decline 0.2 per cent to $185.4 billion.
Spending on capital machinery and equipment is anticipated to increase by 3.9 per cent to $112 billion.