Canada capacity utilization Q2 79.1% vs 78.6% last quarter

• Prior quarter: 78.5% revised to 78.6%

Details:

• Canadian industries operated at 79.1% capacity in Q2 2024.
• This is a slight increase from 78.6% in Q1 2024.
• The Q1 2024 capacity utilization was revised up by 0.1 percentage point.

• Mining, Quarrying, and Oil and Gas Extraction

  • Capacity utilization increased by 1.6 percentage points to 77.2% in Q2.
  • Growth driven by higher activity in oil sands extraction (following resumption after maintenance) and support activities for mining and oil and gas extraction.

• Construction

  • Capacity utilization decreased by 0.2 percentage points to 82.4% in Q2.
  • Decline attributed to a downturn in residential building construction.

• Manufacturing

  • Capacity utilization rose by 0.5 percentage points to 77.6% in Q2.
  • Increase led by computer and electronic product manufacturing (+5.1 percentage points) and wood product manufacturing (+2.9 percentage points).

This article was written by Greg Michalowski at www.forexlive.com.