The recession has led Canadian businesses to invest less this year than originally planned, according to Statistics Canada's updated capital expenditures survey released Tuesday.
Total capital spending intentions fell 4.1% between the fourth quarter of 2008 and the second quarter of 2009 to $227.9 billion from $237.5 billion.
The revised estimate is 10.4% below the $254.4 billion in total investment recorded in 2008.
Capital spending in machinery and equipment fell 17% to $95.4 billion while investment in non-residential construction for 2009 is expected to reach $132.4 billion down 5% from 2008.
Capital spending intentions fell in 15 of 20 industries StatsCan surveys. The largest dollar declines occurred in the mining and oil and gas extraction sectors (-32.9%), the finance and insurance sector (-24.1%) and the manufacturing sector (-20.4%).
The largest dollar declines occurred in Alberta, B.C. and Quebec.
Between mid-May and June, StatsCan conducted a revised capital expenditures survey to assess the impact of the recession on capital spending intentions in 2009. These figures were compared to results in StatsCan's original 2009 capital investment survey conducted in 2008's fourth quarter and released in February.