Canadian machinery and equipment prices rose in 2nd quarter
Ottawa, ON -- The Machinery and Equipment Price Index was 131.5 (1986=100) in the second quarter of 2004, up 2.2%...
Ottawa, ON — The Machinery and Equipment Price Index was 131.5 (1986=100) in the second quarter of 2004, up 2.2% from the first quarter. The import component jumped 3.3%, while the domestic component increased 0.9%.
Compared with the second quarter of 2003, the index fell 0.1%, with an increase in the domestic series (+0.1%) and a decline in the import series (-0.3%).
On a quarterly basis, all industries were up, particularly manufacturing (+2.6%), transportation, communication, storage and utilities (+1.9%), agriculture (+1.6%) and mines, quarries and oil wells (+2.8%). Chemicals (+3.0%), paper and allied products (+2.9%) and primary metals (+2.7%) contributed the most to the manufacturing increase. The transport, communication, storage and utilities industry was led by increases in electricity power (+1.8%), air transport (+2.8%) and in telephones (+2.2%).
In the second quarter of 2004, the greatest contributions were observed in specialized industrial equipment (+5.0%), trucks (+1.4%), tractors for farms and gardens (+3.3%) and others agricultural machinery (+2.1%).
On a quarterly basis, the Canadian dollar, together with the import component increase, took a significant fall (-3.1%) against the U.S. dollar. Annually, the Canadian dollar rose 2.0% over the second quarter of 2003.
On a year-over-year basis, the decrease in agriculture (-3.8%) was dampened by increases in manufacturing (+0.4%) and in transport, communication, storage and utilities (+0.2%).