CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Manufacturing boosts industrial capacity

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Manufacturing  and oil and gas extraction helped increase Canada’s industrial capacity use to 82.0 per cent in the fourth quarter of 2013, up from 81.2 per cent in the third quarter of last year, according to the latest figures from Statistics Canada.

The rate, the highest since the 82.0 per cent seen in the second quarter of 2012, was slightly less than the 82.2 per cent predicted by market operators. Statscan revised the third-quarter rate down from an initial 81.7 per cent.

The manufacturing sector, hard hit by weak markets and a strong Canadian dollar, accounted for more than half the overall increase. It operated at 80.7 per cent of capacity, up 0.8 percentage points from the third quarter, thanks to strength in the transportation equipment and food sectors.

The oil and gas extraction industry’s utilization rate rose to 87.5 per cent from 86.0 percent. The mining and quarrying industry posted a gain after eight consecutive declines, with the rate rising to 63.1 perc ent from 61.6 percent.

Compared with 2012, the average capacity utilization of Canadian industries fell 0.2 percentage points to 81.3 per cent, the first annual decrease since 2009.

Reuters

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