September 8, 2017 / 12:41 PM / a year ago

Canada second-quarter industrial capacity rises to highest in 10 years

An aerial view of Agnico-Eagle's Meadowbank mine and processing facilities in Nunavut, June 28, 2011. REUTERS/Euan Rocha

OTTAWA (Reuters) - Canada’s industrial capacity rose in the second quarter to its highest level since 2007 on higher volumes of oil and gas extraction, data from Statistics Canada showed on Friday.

Capacity utilization rose to 85.0 percent from a downwardly revised 83.2 percent in the first quarter. It was the highest level since the third quarter of 2007.

It was also the second straight quarter that the utilization rate exceeded the historical average of 83.1 percent, the statistics agency said.

Capacity utilization in the oil and gas sector rose to 84.0 percent after two quarters of declines. Industrial utilization also rose to 87.7 percent in the construction sector, helped by residential building.

The manufacturing industry saw its capacity utilization rise to 84.2 percent, driven by an increase in sectors that create durable goods. Overall, capacity utilization rose in 15 of the 21 major manufacturing industries.

Reporting by Leah Schnurr; Editing by Chizu Nomiyama

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