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Machinery and Equipment Price Index, first quarter 2013

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Released: 2013-05-23

The Machinery and Equipment Price Index (MEPI) rose 1.2% in the first quarter compared with the previous quarter. The import component was up 2.0% over this period, while the domestic component increased 0.1%.

All industries posted increases in prices of machinery and equipment purchased in the first quarter. The largest contributor to the total MEPI quarterly increase was manufacturing (+1.4%), with the transportation equipment manufacturing sub-component advancing 1.4% and the primary metal and fabricated metal product manufacturing sub-component up 1.5%. The second largest contributor to the total MEPI quarterly increase was finance, insurance and real estate (+0.9%).

On a commodity basis, most commodities posted price increases in the first quarter. Among these, other industry specific machinery (+1.5%) and construction machinery (+3.5%) contributed the most to the quarterly increase of the total MEPI.

The Canadian dollar depreciated 1.7% against the US dollar in the first quarter compared with the previous quarter. Variations in exchange rates can have a strong influence on the MEPI given the high weight that imported machinery and equipment have on the index.

Compared with the first quarter of 2012, the total MEPI increased 1.1%, with the import component up 2.0% and the domestic component down 0.1%. The movement in the import component was partly influenced by the year-over-year change in the Canadian dollar (-0.8%) against the US dollar.

Table 1 
Machinery and Equipment Price Index – Not seasonally adjusted

  Note to readers

The Machinery and Equipment Price Index provides quarterly estimates of price changes for machinery and equipment purchased by industries in Canada.

With each release, data for the previous four quarters may have been revised. The indexes are not seasonally adjusted.

The first quarter 2013 issue of Capital Expenditure Price Statistics (Catalogue number62-007-X) will be available in July.

The Machinery and Equipment Price Index for the second quarter will be released on August 22.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; infostats@statcan.gc.ca) or Media Relations (613-951-4636; statcan.mediahotline-ligneinfomedias.statcan@canada.ca).

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