Statistics Canada forecasts 4.9 per cent slip in capital spending for 2015

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

Public sector capital spending is expected to decrease 0.2 per cent while the private sector is expected to drop seven per cent.

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 per cent to $67.9 billion.

Capital spending by organizations in the health care and social assistance sector is expected to go down 14.2 per cent from 2014 to $8.7 billion this year, while the professional, scientific and technical services sector is expected to slip 23.2 per cent to $2.0 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 per cent to $17.5 billion this year.