Investing.com – Canada’s capacity utilization rate rose more-than-expected in the third quarter, official data showed on Monday.
In a report, Statistics Canada said that the capacity utilization rate rose a seasonally adjusted 78.1% in the third quarter, after rising by 76.9% in the preceding quarter, whose figure was revised up from 76.0%.
Analysts had expected the capacity utilization rate to rise by 75.8% in the third quarter.
This was the fifth consecutive increase since the record low rate of 67.8% in the second quarter of 2009.
According to the data, the biggest contributors to increased capacity use were the transportation equipment, machinery, fabricated metal products, computer and electronic products, primary metal, and food industries.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.45% to hit 1.0049.
In a report, Statistics Canada said that the capacity utilization rate rose a seasonally adjusted 78.1% in the third quarter, after rising by 76.9% in the preceding quarter, whose figure was revised up from 76.0%.
Analysts had expected the capacity utilization rate to rise by 75.8% in the third quarter.
This was the fifth consecutive increase since the record low rate of 67.8% in the second quarter of 2009.
According to the data, the biggest contributors to increased capacity use were the transportation equipment, machinery, fabricated metal products, computer and electronic products, primary metal, and food industries.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.45% to hit 1.0049.