Canadian Industries Reduce Rate of Capacity Utilization in 1Q
Canadian industries continued to reduce their rate of capacity utilization in the first quarter of 2009, operating at 69.3% of production capacity, down 5.6 percentage points from the previous quarter. It was the first time that industrial capacity use fell below the 70% level since the start of the data series in 1987.
In the first quarter, durable goods industries, especially the transportation equipment industry, the construction sector, and the mining sector (excluding oil and gas extraction), were the main contributors to the overall decline. Weakened global and domestic demand for manufactured goods continued to drive down capacity utilization rates. Of the 21 major industries in the manufacturing group, 18 registered lower rates.
As it did in the fourth quarter of 2008, the …
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