OTTAWA (Reuters) - Stronger manufacturing and construction boosted Canada’s industrial capacity use to 83.4 percent in the third quarter of 2014, the highest for almost nine years, Statistics Canada said on Thursday.
Market analysts had expected capacity utilization of 83.1 percent. The increase - the fifth consecutive quarter of growth - pushed the rate up to its most elevated level since the 84.2 percent seen in the first quarter of 2006.
The manufacturing sector operated at 83.8 percent of capacity, up 1.0 percentage points from the second quarter, and the highest since the 84.2 percent recorded in the second quarter of 2007.
The capacity utilization rate rose in 15 of the 21 major manufacturing groups, accounting for about 80 percent of the sector’s gross domestic product.
Capacity utilization in construction rose to 84.9 percent from 84.1 percent. The rate for the oil and gas extraction industry dipped by 0.7 percentage points to 86.6 percent.
Reporting by David Ljunggren; Editing by Chizu Nomiyama