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The latest Public and Private Investment (PPI) intentions survey, released in February 2008, indicates about $4.6 billion of planned expenditures for 2008 – representing a 15.0% increase over 2007.
The increase in expected capital spending in 2008 is mainly due to a large increase in construction spending. Construction spending is expected to increase by 20.8% over 2007 and machinery and equipment spending is expected to increase by 1.4%.
On an industry basis, the most significant contributor to the expected rise in investment is a $504.3 million increase in mining and oil and gas extraction spending. Other notable expenditure increases are expected in: housing, manufacturing and public administration.
Industries expected to show significant investment decreases in 2007 include transportation and utilities.
|
Capital
Expenditures - Newfoundland and Labrador ($ millions) |
| Industry |
2007 |
2008 |
Actual Change |
% Change |
| Agriculture, Forestry, Fishing & Hunting |
43.8 |
41.6 |
-2.2 |
-5.0% |
| Mining & Oil & Gas Extraction |
1,177.7 |
1,682.0 |
504.3 |
42.8% |
| Utilities |
149.3 |
132.9 |
-16.4 |
-11.0% |
| Construction |
53.7 |
53.8 |
0.1 |
0.2% |
| Manufacturing |
147.1 |
195.6 |
48.5 |
33.0% |
| Trade |
176.3 |
172.6 |
-3.7 |
-2.1% |
| Transportation |
172.0 |
142.3 |
-29.7 |
-17.3% |
| Information & Cultural Industries |
122.0 |
114.5 |
-7.5 |
-6.1% |
| Finance, Insurance and Real Estate |
245.9 |
242.6 |
-3.3 |
-1.3% |
| Educational Services |
77.6 |
80.9 |
3.3 |
4.3% |
| Health Care & Social Assistance |
76.4 |
75.5 |
-0.9 |
-1.2% |
| Public Administration |
389.3 |
431.8 |
42.5 |
10.9% |
| Housing |
1,141.0 |
1,209.9 |
68.9 |
6.0% |
| Other Industries |
67.7 |
71.7 |
4.0 |
5.9% |
| TOTAL |
4,039.8 |
4,647.7 |
607.9 |
15.0% |
Source:
Statistics Canada
Note: 2007 is preliminary
actual data; 2008 is intentions data. |
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