Machinery and equipment rental prices see significant decline in first quarter
Ottawa – The Commercial and Industrial Machinery and Equipment Rental and Leasing Services Price Index compiled by Statistics Canada declined 2.0% in the first quarter, the largest quarterly decrease since the series began in 2006. This followed a 0.4% decrease in the fourth quarter of 2014.
The heavy machinery and equipment (construction, transportation, mining and forestry) component declined 2.5%. Respondents cited market conditions as the main reason for the decline. The office and other machinery and equipment component decreased 0.8%.
The index was down 1.7% in the first quarter compared with the same quarter of 2014.