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For additional information relating to this article, please contact:

Alexander Chute Economist
Tel: 902-424-5810Email: Alexander.Chute@novascotia.ca

November 20, 2018
STOCK AND CONSUMPTION OF FIXED CAPITAL 2017

Statistics Canada has released details of fixed capital assets for 2017. Nova Scotia private non-residential investment (all figures in real terms - adjusted to 2012 constant prices) decreased 10.4 per cent while national investment was up 2.0 per cent. Private investment declined in Newfoundland and Labrador, Nova Scotia and Alberta in 2017, with Alberta reporting a decline for the third consecutive year. British Columbia and Saskatchewan reported increases in private investment following two years of decline. Investment in Government sector assets increased 3.9 per cent in Nova Scotia and 6.4 per cent nationally in 2017.

Over the long run, Nova Scotia's real private sector investment per worker has generally lagged the national average, with periodic bursts of activity. In previous years, Nova Scotia real investment per worker has been short of the national average as investment projects in resource-rich provinces outpaced non-resource provinces. The net capital stock per worker for the private sector was $110,185 in Nova Scotia in 2017 compared to the national average of $168,981.

The net capital stock is calculated for the end of the year after investment is added and depreciation of existing assets is subtracted. A decrease in the capital stock occurs when the amount of depreciation exceeds the flow of new investment. In 2017, the non-residential capital stock in Nova Scotia edged up 0.3 per cent to $46.9 billion. Among asset classes the net stock increased for non-residential building (+2.7 per cent), transportation equipment (+1.7 per cent), research and development (+0.3 per cent) and software (4.1 per cent), but declined for industrial machinery (-0.6 per cent), engineering (-1.1 per cent), computer/electrical equipment (-2.9 per cent), mineral exploration and evaluation (-5.7 per cent) and other machinery and equipment (-4.8 per cent).

Stock and Consumption of Fixed Capital 2017



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