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Investing.com -- The utilization of industrial capacity in Canada increased slightly to 79.8% in the fourth quarter of 2024, a small rise from the revised figure of 79.4% in the third quarter, according to data released by Statistics Canada on Friday.
The growth in industrial capacity use is mainly due to progress in the construction sector and the manufacturing of petroleum and coal products.
For comparison, the capacity utilization was reported at 79.3% in the third quarter of 2024, before being revised upwards to 79.4%. Similarly, the utilization rate in the manufacturing sector was initially reported as 78.2% for the third quarter of 2024, then revised to 78.1%, and remained at 78.2% in the fourth quarter of 2024.
Statistics Canada’s report provides valuable data on the efficiency of the industrial sector in Canada, reflecting the percentage of resources used by businesses and factories. A higher percentage indicates that more of the available resources are being used, which could point to a stronger economy.
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