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The Capital Expenditures Survey – Revised Intentions was conducted by Statistics Canada between mid-May and the end of June 2009, on an exceptional basis, using a reduced sample, to assess the impact of the economic downturn on capital spending intentions for 2009. The following analysis compares these revised intentions to those reported in February 2009 based on an earlier survey conducted between October 2008 and late January 2009.
Revised investment intentions in non-residential construction and machinery and equipment totalled $227.9 billion for 2009, down 4.1 % from the original intentions of $237.5 billion released in February. The revised estimate is 10.4% below the $254.4 billion in total investment recorded in 2008.
Capital spending in machinery and equipment is now anticipated at $95.4 billion, 17.0% below the 2008 estimate, while investment in non-residential construction for 2009 is expected to reach $132.4 billion, down 5.0% from 2008.
Capital spending intentions were revised downward in 15 of 20 industries compared with 2008. The largest declines (in dollars) occurred in the mining and oil and gas extraction sector (-32.9%), the finance and insurance sector (-24.1%) and the manufacturing sector (-20.4%).
In contrast, spending intentions by public administrations for 2009 now amount to $41.2 billion, 14.8% higher than in 2008. The revised investment intentions also increased in sectors dominated by public spending, especially in the educational services and health care and social assistance sectors.
Among the provinces and territories, Newfoundland and Labrador, Saskatchewan and Yukon raised their estimates compared with 2008. The largest declines (in dollars) occurred in Alberta, British Columbia and Quebec.
Note: The Capital Expenditures Survey – Revised Intentions was conducted between mid-May and the end of June 2009 and included 7,400 businesses and governments. The original survey results released in The Daily on February 25, 2009, was based on a sample of 28,000 businesses and governments.
Definitions, data sources and methods: survey number 2803.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Yves Gauthier (613-951-0188; yves.gauthier@statcan.gc.ca), Investment and Capital Stock Division.
Table 1
| 2008 | 2009 intentions | 2009 revised intentions | Intentions 2009 to revised intentions 2009 | Preliminary actual 2008 to revised intentions 2009 | |
|---|---|---|---|---|---|
| $ millions | % change | ||||
| Total | 254,385.3 | 237,539.6 | 227,867.2 | -4.1 | -10.4 |
| NAICS1 sectors | |||||
| Agriculture, forestry, fishing and hunting | 4,635.1 | 4,392.2 | 4,081.4 | -7.1 | -11.9 |
| Mining and oil and gas extraction | 61,104.1 | 44,948.7 | 41,021.9 | -8.7 | -32.9 |
| Utilities | 21,912.2 | 23,300.9 | 22,685.2 | -2.6 | 3.5 |
| Construction | 5,796.3 | 5,823.8 | 5,259.9 | -9.7 | -9.3 |
| Manufacturing | 20,117.5 | 18,417.1 | 16,003.6 | -13.1 | -20.4 |
| Wholesale trade | 5,464.8 | 5,447.5 | 4,266.6 | -21.7 | -21.9 |
| Retail trade | 9,473.6 | 8,763.4 | 9,465.5 | 8.0 | -0.1 |
| Transportation and warehousing | 19,825.2 | 20,409.1 | 21,061.0 | 3.2 | 6.2 |
| Information and cultural industries | 9,137.3 | 9,172.1 | 8,892.3 | -3.1 | -2.7 |
| Finance and insurance | 16,435.2 | 15,263.2 | 12,474.0 | -18.3 | -24.1 |
| Real estate, rental and leasing | 14,694.7 | 14,196.3 | 13,918.3 | -2.0 | -5.3 |
| Professional, scientific and technical services | 3,437.2 | 3,290.1 | 2,503.1 | -23.9 | -27.2 |
| Management of companies and enterprises | 204.8 | 170.3 | 157.5 | -7.5 | -23.1 |
| Administration, support waste management and remedial service | 1,900.4 | 1,437.4 | 1,297.1 | -9.8 | -31.7 |
| Educational services | 8,323.5 | 8,242.3 | 8,779.6 | 6.5 | 5.5 |
| Health care and social assistance | 8,675.5 | 8,719.4 | 9,293.9 | 6.6 | 7.1 |
| Arts, entertainment and recreation | 2,022.9 | 2,006.9 | 1,864.4 | -7.1 | -7.8 |
| Accommodation and food services | 3,546.2 | 2,210.3 | 2,096.3 | -5.2 | -40.9 |
| Other services (except public administration) | 1,761.6 | 1,640.6 | 1,519.3 | -7.4 | -13.8 |
| Public administration | 35,917.2 | 39,688.1 | 41,226.1 | 3.9 | 14.8 |
Table 2
| 2008 | 2009 intentions | 2009 revised intentions | Intentions 2009 to revised intentions 2009 | Preliminary actual 2008 to revised intentions 2009 | |
|---|---|---|---|---|---|
| $ millions | % change | ||||
| Canada | 254,385.3 | 237,539.6 | 227,867.2 | -4.1 | -10.4 |
| Non-residential construction | 139,424.4 | 130,320.4 | 132,417.9 | 1.6 | -5.0 |
| Machinery and equipment | 114,960.9 | 107,219.2 | 95,449.3 | -11.0 | -17.0 |
| Newfoundland and Labrador | 2,985.5 | 3,365.3 | 3,693.4 | 9.8 | 23.7 |
| Non-residential construction | 1,753.8 | 2,195.4 | 2,776.2 | 26.5 | 58.3 |
| Machinery and equipment | 1,231.6 | 1,169.9 | 917.2 | -21.6 | -25.5 |
| Prince Edward Island | 679.9 | 622.0 | 653.3 | 5.0 | -3.9 |
| Non-residential construction | 362.7 | 313.3 | 410.3 | 31.0 | 13.1 |
| Machinery and equipment | 317.2 | 308.7 | 243.0 | -21.3 | -23.4 |
| Nova Scotia | 4,563.1 | 4,871.0 | 4,554.1 | -6.5 | -0.2 |
| Non-residential construction | 2,345.8 | 2,625.0 | 2,618.1 | -0.3 | 11.6 |
| Machinery and equipment | 2,217.3 | 2,246.0 | 1,936.0 | -13.8 | -12.7 |
| New Brunswick | 4,568.6 | 4,049.0 | 3,266.0 | -19.3 | -28.5 |
| Non-residential construction | 2,572.6 | 2,214.1 | 2,003.9 | -9.5 | -22.1 |
| Machinery and equipment | 1,996.1 | 1,835.0 | 1,262.1 | -31.2 | -36.8 |
| Quebec | 42,322.1 | 42,168.4 | 38,285.5 | -9.2 | -9.5 |
| Non-residential construction | 21,479.1 | 21,895.9 | 22,286.8 | 1.8 | 3.8 |
| Machinery and equipment | 20,843.0 | 20,272.5 | 15,998.7 | -21.1 | -23.2 |
| Ontario | 71,717.6 | 70,558.3 | 69,546.4 | -1.4 | -3.0 |
| Non-residential construction | 28,886.6 | 29,885.8 | 31,384.0 | 5.0 | 8.6 |
| Machinery and equipment | 42,831.0 | 40,672.4 | 38,162.4 | -6.2 | -10.9 |
| Manitoba | 7,951.8 | 7,604.5 | 7,760.5 | 2.1 | -2.4 |
| Non-residential construction | 4,478.2 | 4,283.8 | 4,700.1 | 9.7 | 5.0 |
| Machinery and equipment | 3,473.6 | 3,320.7 | 3,060.4 | -7.8 | -11.9 |
| Saskatchewan | 11,472.5 | 11,739.8 | 11,834.9 | 0.8 | 3.2 |
| Non-residential construction | 7,296.1 | 7,230.8 | 7,948.6 | 9.9 | 8.9 |
| Machinery and equipment | 4,176.3 | 4,509.0 | 3,886.3 | -13.8 | -6.9 |
| Alberta | 73,785.2 | 62,472.8 | 61,070.1 | -2.2 | -17.2 |
| Non-residential construction | 49,041.2 | 41,610.2 | 41,116.4 | -1.2 | -16.2 |
| Machinery and equipment | 24,744.0 | 20,862.6 | 19,953.7 | -4.4 | -19.4 |
| British Columbia | 30,925.9 | 27,889.9 | 24,734.3 | -11.3 | -20.0 |
| Non-residential construction | 18,391.9 | 16,339.2 | 15,172.9 | -7.1 | -17.5 |
| Machinery and equipment | 12,534.1 | 11,550.7 | 9,561.3 | -17.2 | -23.7 |
| Yukon | 460.3 | 392.9 | 484.4 | 23.3 | 5.2 |
| Non-residential construction | 344.0 | 266.0 | 333.3 | 25.3 | -3.1 |
| Machinery and equipment | 116.2 | 126.9 | 151.1 | 19.1 | 30.0 |
| Northwest Territories | 1,752.1 | 1,159.6 | 1,371.9 | 18.3 | -21.7 |
| Non-residential construction | 1,475.0 | 923.9 | 1,159.4 | 25.5 | -21.4 |
| Machinery and equipment | 277.1 | 235.8 | 212.5 | -9.9 | -23.3 |
| Nunavut | 1,200.6 | 645.9 | 612.6 | -5.2 | -49.0 |
| Non-residential construction | 997.3 | 536.9 | 508.0 | -5.4 | -49.1 |
| Machinery and equipment | 203.3 | 109.0 | 104.6 | -4.0 | -48.5 |
