The Canadian Press
Investment in non-residential construction and machinery and equipment is expected to increase 5.3% to $239.9 billion this year.
Statistics Canada predicts it will remain below 2008 levels due to the sizable decline in 2009.
Capital spending by the public sector, particularly the public administration, will account for nearly two-thirds of the increase.
The agency expects higher public-sector investment to continue into 2010 as capital spending by the public sector is anticipated to increase 9.9% to nearly $87.8 billion.
Private-sector investment is expected to rise 2.8% to $152.2 billion, with significant capital-spending increases from mining and oil-and-gas extraction, as well as manufacturing, are behind that increase.
Non-residential construction is expected to increase 7.2% to $139.2 billion, accounting for over three-quarters of total capital spending, while spending on machinery and equipment is expected to increase 2.8% to $100.7 billion.
Spending to increase in 2010, but will remain below 2008 levels: StatsCan
Higher public-sector investment to continue
- By: The Canadian Press
- February 26, 2010 February 26, 2010
- 10:32