Machinery and equipment price indexes
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The Machinery and Equipment Price Index (MEPI) declined by 1.5% in the first quarter compared to the previous quarter. The import component decreased 2.2% over this period, while the domestic component fell 0.1%. Compared with the first quarter of 2010, the total MEPI decreased 2.9%, with the import and domestic components declining 4.3% and 0.5% respectively.
Except for the fishing, hunting and trapping that was unchanged, all other industries recorded decreases in the prices of machinery and equipment purchased in the first quarter. The largest contributor to the total MEPI decline was the manufacturing industry (-1.3%), led by the subcomponent transportation equipment manufacturing (-1.0%) and primary metal and fabricated metal product manufacturing (-1.2%). The second largest industry sector contributor to the quarterly decline of the total MEPI was the finance, insurance and real estate industry with a decrease of 1.6%.
Almost all commodities posted price decreases in the first quarter. Contributing most to the quarterly index decline of the total MEPI were computers and peripherals equipment such as terminals, printers and storage devices (-4.3%) and other industry specific machinery (-1.8%).
The Canadian dollar appreciated by 2.7% against the US dollar in the first quarter, while it gained 5.6% against its US counterpart from the same period last year. Variations in exchange rates can have a strong influence on the MEPI given the weight that imported machinery and equipment has in the index.
Note: This release presents data that are not seasonally adjusted and the indexes published are subject to a four quarter revision period after dissemination of a given quarter's data.
Definitions, data sources and methods: survey number 2312.
The first quarter 2011 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in July.
The machinery and equipment price indexes for the second quarter will be released on August 25.
For more information, or to enquire about the concepts, methods or data quality of this release, contact the Client Services (toll-free 1-888-951-4550; 613-951-4550; fax: 613-951-3117; email@example.com), Producer Prices Division.
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