Investment in manufacturing sector remains on downward slope

Investment continues to falter in the manufacturing sector, following two consecutive quarters of declining capacity utilization rates and four straight quarters of decreasing operating profits.

Capital spending is expected to fall 8.6% from 2000 levels down to $19.4 billion, Statistics Canada reports.

The largest declines are anticipated from the primary metal component, (-$1.3 billion), and from wood products, (-$776.7 million). Both declines result from major projects winding down.