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.
