Fabricated metal product manufacturing capacity utilization rose 5.6% in August from the previous month. PHOTO courtesy Flow.
The Canadian manufacturing capacity utilization rate increased from 77.6% in July to 80.2% in August, on higher production, the latest report from Statistics Canada reveals.
Fabricated metal product manufacturing gains were amongst the highest, climbing 5.6% from the previous month to 78.4% capacity utilization. That was also a 5% increase from the same period last year.
Inventories for Canadian manufacturing meanwhile edged down 0.1% to $122.2 billion in August, the lowest level since January 2023. The decline in August occurred because of lower raw materials (-0.6%) and finished products (-0.1%). Lower inventories of chemical products (-3.8%) and primary metals (-2.5%) were mainly responsible for the decline.
Unfilled orders rose 0.5% to $103.8 billion in August, largely on higher unfilled orders of aerospace product and parts (+2.7%). As recovery continues in the aerospace industry, driven by higher demand and market confidence, aerospace manufacturers face higher backlog orders which give them incentives to expand their manufacturing operations.