2005 investment forecast for Canada
Business
investments in
Canada are expected to increase by 8.4% in 2005 to C$188.3 billion, excluding the housing sector, suggest forecasts from Statistics
Canada.
Manufacturing investments are expected to increase 14.9% to C$22.1 billion, largely driven by investment in refineries (up 36.6%), wood products (up 60.8%) and chemical
manufacturing (up 23.7%). The mining, oil and gas extraction sector is expected to increase 12.2% to C$37.7 billion.
At 35%, Ontario will receive the largest share of total intended investment. Alberta comes in second with 20% due to growth in the oil and gas industry. Quebec is a close third at 19%.
Investment in Quebec is projected to edge up 2.2% to C$50.2 billion. Alberta should reach C$52.3 billion (+7.8%), and Ontario is expected to hit C$90.7 billion (+5.9%).
Non-residential
construction is expected to increase 10.2% to C$88.5 billion in 2005, while spending on machinery and equipment is expected to rise 6.9% to C$99.8 billion.
Preliminary figures for 2004 indicate that total investment in 2004 reached C$243.9 billion, an 8.5% increase from the previous year. The 2004 numbers were also 3.1% stronger than forecasts made at the beginning of the year.
C$ = US$0.80176