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Canada Capacity Utilization Down For The Fourth Straight Quarter

CANADA DATA
  • Canada industrial capacity utilization +78.5% in Q1, almost unchanged from +78.6% in Q4 2023. 
  • Capacity utilization down -1.2 pp from a year ago. 
  • Manufacturing capacity utilization -0.1 pp QOQ to +76.8%, the decline was driven by wood products. 
  • Utilization in mining, oil, and gas extraction -0.7 pp after two quarters of increases to 75.6%. Construction sector +0.1pp to +82.7%.
  • Q1 GDP results released a week ago were lower than expected at a 1.7% annualized rate. The BoC has said that the economy is in excess supply. 

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