Machinery and equipment price indexes
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The Machinery and Equipment Price Index (MEPI) declined by 1.2% in the fourth quarter. The import component decreased by 2.0% over this period, while the domestic component fell by 0.2%. The total MEPI decreased by 2.4% compared with the fourth quarter of 2009, with the import component falling by 3.7% and the domestic component down by 0.4%.
All industries recorded declines in the prices of machinery and equipment purchased in the fourth quarter. The largest contributor to the total MEPI decline was manufacturing industries (-1.7%), led by the following subcomponents: transportation equipment manufacturing (-1.6%) and primary metal and fabricated metal product manufacturing (-1.6%). The second largest industry sector contributor to the quarterly decline of the total MEPI was other services (excluding public administration), which was down by 1.4%.
Among commodities, other industry specific machinery (-1.9%) and computers and peripherals equipment such as terminals, printers and storage devices (-4.1%) were the largest contributors to the quarterly decline of the total MEPI.
The Canadian dollar appreciated by 2.6% against the US dollar in the fourth quarter, while year over year, it gained 4.3% against its US counterpart. Variations in exchange rates can have a strong influence on the MEPI given the high weight that imported machinery and equipment has in the index.
Note: This release presents data that are not seasonally adjusted and the indexes published are subject to a four quarter revision period after dissemination of a given quarter's data.
Available on CANSIM: tables 327-0041 and 327-0042.
Definitions, data sources and methods: survey number 2312.
The fourth quarter 2010 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in April.
The machinery and equipment price indexes for the first quarter of 2011 will be released on May 26.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (toll-free 1-888-951-4550; 613-951-4550; fax: 613-951-3117; ppd-info-dpp@statcan.gc.ca), Producer Prices Division.
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