Private sector capital spending to drop 7% in 2015: StatsCan

Manufacturers plan to increase spending by 2.7% to $17.5 billion.

July 6, 2015   by The Canadian Press

OTTAWA — Statistics Canada says capital spending this year on non-residential construction and machinery and equipment is expected to slip 4.9% to $251.8 billion compared with 2014.

Public sector capital spending is expected to decrease 0.2% while the private sector is expected to drop 7%.

The federal agency says according to its survey, spending by the mining, quarrying, and oil and gas extraction sector is expected to fall 18.7% to $67.9 billion.

Capital spending by organizations in the health care and social assistance sector is expected to go down 14.2% from 2014 to $8.7 billion this year, while the professional, scientific and technical services sector is expected to slip 23.2% to $2 billion.

The transportation and warehousing sector is expected to show the largest growth this year. The sector is expected to increase spending $3.1 billion to $26.4 billion, largely as a result of pipeline transportation, and transit and ground passenger transportation.

Manufacturers plan to increase spending by 2.7% to $17.5 billion this year.

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