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Canadian Industrial Capacity Utilization Drops To Record Low In Q2

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Canadian industrial capacity utilization dropped to its lowest rate on record in the second quarter, according to data released by Stats Canada Monday morning.

Amid the global economic malaise, industries lowered their rate of capacity utilization by 2.8 percentage points to 67.4% in the second quarter, a much smaller decline than the decrease of 5.2 percentage points in the first quarter.

All sectors except food manufacturing saw their capacity use fall, albeit at a slower pace compared with the first quarter.

Of the 21 major industries in the manufacturing group, 20 used less of their production capacity in the second quarter, reflecting the weak demand for manufactured goods. The utilization rate in the transportation equipment industry fell 0.9 percentage points to 46.0%, after decreasing 12.1 points in the first quarter of 2009 and 9.2 points in the fourth quarter of 2008.

(Market News Provided by RTTNews)

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