UPDATE 1-Oil boosts Canada's industrial capacity use in Q3

Thu Dec 12, 2013 8:34am EST
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* Capacity use 81.7 pct in Q3

* Q2 revised up to 81.1 pct from 80.6 pct

* Analysts had expected 81.0 pct for Q3

* Oil and gas extraction accounts for half the rise

OTTAWA, Dec 12 (Reuters) - Oil and gas extraction helped boost Canada's industrial capacity utilization rate to a better-than-expected 81.7 percent in the third quarter from an upwardly revised 81.1 percent in the second, Statistics Canada said on Thursday.

The second quarter was revised up from 80.6 percent. The median forecast in a Reuters survey of analysts was for 81.0 percent in the third quarter.

The oil and gas extraction industry, whose capacity use rose 2.4 percentage points to 87.5 percent, accounted for more than half the overall gain. Crude oil was primarily responsible for the oil and gas increase.

The manufacturing sector also rose, by 0.6 percentage points, to 80.5 percent, though this ended up 1.2 points lower than the third quarter of 2012. The main contributors to the manufacturing increase were primary metals, food manufacturing, and transportation equipment, Statistics Canada said.