Capacity utilization for fabricated metal products trailed the performance of manufacturing overall in the second quarter. PHOTO courtesy Prima Power.
The capacity utilization rate in the manufacturing sector edged up 0.2 percentage points to 78.0% in the second quarter, according to Statistics Canada.
The increase was mainly attributable to the strength of the transportation equipment manufacturing subsector, the rate of which rose 4.2 percentage points to 85.4% in the second quarter.
“This increase reflects improvements to earlier challenges with the supply chain.” Statistics Canada commented.
However, capacity utilization for fabricated metal product manufacturers shrunk by 1.3% in the second quarter. Capacity utilization for fabricated metal products came in at 76.5% during the second quarter, compared to 77.8% during the first quarter. Looked at year-over-year that’s an improvement as capacity utilization for the second quarter of 2022 was only at 74.2%.