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Adjustments applied to capital expenditure estimates to achieve gross fixed capital formation

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Release date: December 14, 2015

The Capital and repair expenditure survey (CAPEX) program releases estimates of capital expenditure on non-residential buildings and engineering and machinery and equipment. The Canadian system of macroeconomic accounts (CSMA) produces estimates of gross fixed capital formation (GFCF) on those assets as well. Although the two concepts are very similar and each is an important indicator that provides different perspectives, the concept of GFCF is broader in scope with a larger asset boundary. This note will provide the adjustments applied to the CAPEX estimate to achieve an estimate of GFCF.

Adjustments applied to capital expenditure to produce the CSMA concept of GFCF

The following table includes the adjustments, by province and territory. The adjustments are split between those applied to machinery and equipment and those applied to non-residential construction. The starting point is the capital expenditure estimate from the CAPEX program, and the end point is the resulting GFCF estimate within the CSMA.

For more information on the concepts of capital expenditure and gross fixed capital formation, please see Reconciliation of capital expenditure and gross fixed capital formation.

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