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The latest Public and Private Investment (PPI) intentions survey, released in February 2009, indicates about $4.8 billion of planned expenditures for 2009 – representing a 9.4% increase over 2008.
The increase in expected capital spending in 2009 is due to a large increase in construction spending. Construction spending is expected to increase by 15.1% over 2008 while machinery and equipment spending is expected to decline by 5.0%.
On an industry basis, the most significant contributor to the expected rise in investment is a $328.3 million increase in mining and oil and gas extraction spending. Other notable expenditure increases are expected in: public administration, housing, utilities and health care and social assistance.
|
Capital
Expenditures - Newfoundland and Labrador ($ millions) |
| Industry |
2008 |
2009 |
Actual Change |
% Change |
| Agriculture, Forestry, Fishing & Hunting |
41.9 |
41.3 |
-0.6 |
-1.4% |
| Mining & Oil & Gas Extraction |
1,102.8 |
1,431.1 |
328.3 |
29.8% |
| Utilities |
139.9 |
157.1 |
17.2 |
12.3% |
| Construction |
102.6 |
103.0 |
0.4 |
0.4% |
| Manufacturing |
212.8 |
204.1 |
-8.7 |
-4.1% |
| Trade |
140.1 |
145.0 |
4.9 |
3.5% |
| Transportation |
216.4 |
206.8 |
-9.6 |
-4.4% |
| Information & Cultural Industries |
114.0 |
111.7 |
-2.3 |
-2.0% |
| Finance, Insurance & Real Estate |
195.0 |
189.5 |
-5.5 |
-2.8% |
| Professional, Scientific & Technical |
26.3 |
28.5 |
2.2 |
8.4% |
| Educational Services |
93.1 |
91.9 |
-1.2 |
-1.3% |
| Health Care & Social Assistance |
94.5 |
110.9 |
16.4 |
17.4% |
| Public Administration |
448.3 |
491.5 |
43.2 |
9.6% |
| Housing |
1,371.7 |
1,403.0 |
31.3 |
2.3% |
| Other Industries |
57.8 |
52.9 |
-4.9 |
-8.5% |
| Total |
4,357.2 |
4,768.3 |
411.1 |
9.4% |
Source:
Statistics Canada
Note: 2008 is preliminary
actual data; 2009 is intentions data. |
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