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