Construction

Capital investment in the province reached $3.6 billion in 2000, a decrease of 5.5% from last year’s record level. Nationally, investment increased 5.0%.
Estimates for 2000 show spending by the private sector, which represents over 75% of total investment, decreased 4.1%, while public investment declined 10.3%.
In 2000, construction activity continued on the Fredericton to Moncton four-lane highway project. The Irving Oil refinery expansion and the Saint John lateral pipeline were completed, and construction began on the natural gas distribution system.
Spending on construction decreased 7.9% to $2.3 billion, while investment in machinery and equipment declined 1.0% to $1.3 billion.
According to Canada Mortgage and Housing Corporation, housing starts in 2000 increased to 3,079, a gain of 10.9% and the highest level since 1994.
Construction industries account for about 6% of total GDP for New Brunswick.
For 2001, capital investment in New Brunswick is expected to be relatively strong at $3.0 billion despite the completion of major projects.