OTTAWA, Ont. — Canadian businesses invested more in machinery and equipment for the second straight quarter, according to Statistics Canada.
The level of investment grew 3.1 per cent last quarter. The past six months buck the trend of three consecutive quarterly declines beginning last fall.
The import of new transportation equipment, as well as a floating drilling rig in Nova Scotia significantly boosted business investment numbers. Excluding these increases, business investment in machinery and equipment actually declined 3.5 per cent.
Investment dropped 11.8 per cent in computers and other office equipment, the fourth consecutive quarterly decline, after strong growth in the preceding four quarters. Business investment in non-residential structures fell 1.3 per cent — there were declines in spending on both building and engineering construction.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News