By Paul Vieira
OTTAWA--Canada's industrial capacity-utilization rate increased in the third quarter, although it remained below the 80% level for a sixth-straight quarter.
Overall, industries in the country operated at 79.3% of their production capacity in the second quarter, an increase from a 79.1% reading in the prior quarter, Statistics Canada said Friday. Market expectations weren't immediately available.
The industrial capacity-utilization rate is the ratio of an industry's actual output to its estimated potential output, and measures the intensity at which industries use their production capacity.
The ratio was in the 80% range from 2021 to early 2023, when economic growth roared - 6% in 2021 and 4.2% in 2022. Since early 2023, the economy has recorded tepid activity, as households and businesses deal with weaker demand stemming from higher costs and elevated interest rates.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
12-13-24 0914ET
