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July 06, 2015CAPITAL AND REPAIR EXPENDITURES SURVEY, 2014 (PRELIMINARY) AND 2015 (INTENTIONS) Statistics Canada has released the results of its annual survey of capital expenditures for non-residential construction and machinery and equipment. The preliminary estimate for 2014 and intentions for 2015 is based upon a sample survey of 25,000 private and public organizations.
Nova Scotia non-residential and machinery and equipment investment was $3.58 billion in 2013, a 0.6 per cent decrease compared to 2012 with an increase in private machinery and equipment investment being offset with lower public capital expenditures and a decline in private non-residential capital expenditures. The preliminary expenditures for 2014 and intentions for 2015 are for an increase of 3.4 per cent and 9.2 per cent respectively. For 2014, machinery and equipment increased to both private (+14.1%, +$198.4 million) and public (+63.9%, +$141.2 million) sectors while non-residential construction was down in both sectors. Intentions for 2015 capital expenditures are up in for private sector 7.2 per cent (+$165.2 million) and public sector 12.4 per cent (+$174.3 million). Repair expenditures for 2013 were down 3.9 per cent after declining the previous two years.
At an industry level, 2014 preliminary capital expenditures growth (+$123.3 million) came from increased expenditures in utilities (+$91.4 million), manufacturing (+$90.8 million), real estate and leasing (+$88.0 million) and public administration (+$142.1 million) offsetting declines in retail trade (-$80.3 million), information and cultural industries (-$64.9 million), and educational services (-$53.1 million). For 2015, capital expenditures are expected to increase in utilities, transportation and warehousing, informational and cultural industries. Local, municipal and regional public administration had increases in 2014 of $162.5 million and $105.3 million for 2015.
For Canada, capital expenditures in non-residential construction and machinery and equipment were up 3.4 per cent in 2014 to $264.9 billion but with intentions down 4.9 per cent in 2015. For 2015, intentions are for a 7.0 per cent decline in private capital expenditures with a decline in mining, quarrying and oil and gas sector of 18.7 per cent or $15.6 billion. Alberta, Saskatchewan , and British Columbia will account for most of the decline in the sector. For 2015 decreases are also expected in health care and professional, scientific and technical services while transportation and warehousing, public administration, manufacturing, and educational services see positive growth.
Capital and Repair Expenditures Survey, 2014 (preliminary) and 2015 (intentions)