Canadian industries ran at 83.0 percent of capacity in the second quarter of 2007, the second straight gain after four quarterly declines as stronger output in most sectors offset weakness in autos, mining and forestry.
The figure, reported by Statistics Canada on Thursday, was below the average market forecast for a 83.2 percent industrial capacity utilization rate. Statscan revised the first-quarter rate to 82.8 percent from 83.0 percent and revised all data back to 2005.
The Bank of Canada said last week that the economy is operating further above its production potential than it had estimated in July, a situation that would normally create inflationary pressures.
In its July projections, it said the economy was running at 0.6 percent above capacity in the second quarter.
Manufacturers ramped up their capacity use in the second quarter to 81.3 percent from 81.0 percent in the first quarter despite pressures from a strong Canadian dollar and softer U.S. demand. That followed declines or stagnation in manufacturing capacity use in the previous four quarters.
But weakened U.S. demand for vehicles and parts dampened output at Canadian auto plants and led to a decline in capacity use by transportation equipment manufacturers to 80.5 percent from 82.4 percent in the previous quarter.
Mining capacity use tumbled to 74.4 percent from 82.6 percent because low natural gas prices discouraged exploration. A tough market for lumber meant wood products manufacturers dropped their capacity use to 73.9 percent, the lowest since 1991.
The figure, reported by Statistics Canada on Thursday, was below the average market forecast for a 83.2 percent industrial capacity utilization rate. Statscan revised the first-quarter rate to 82.8 percent from 83.0 percent and revised all data back to 2005.
The Bank of Canada said last week that the economy is operating further above its production potential than it had estimated in July, a situation that would normally create inflationary pressures.
In its July projections, it said the economy was running at 0.6 percent above capacity in the second quarter.
Manufacturers ramped up their capacity use in the second quarter to 81.3 percent from 81.0 percent in the first quarter despite pressures from a strong Canadian dollar and softer U.S. demand. That followed declines or stagnation in manufacturing capacity use in the previous four quarters.
But weakened U.S. demand for vehicles and parts dampened output at Canadian auto plants and led to a decline in capacity use by transportation equipment manufacturers to 80.5 percent from 82.4 percent in the previous quarter.
Mining capacity use tumbled to 74.4 percent from 82.6 percent because low natural gas prices discouraged exploration. A tough market for lumber meant wood products manufacturers dropped their capacity use to 73.9 percent, the lowest since 1991.
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