Major spare capacity in the economy
Prior was 85.5% (revised to 84.1%)
Capacity utilization rate of the manufacturing sector fell 2.9 percentage points to 78.8%
Year over year, capacity utilization decreased in 16 of the 21 major manufacturing groups
This report doesn't get much attention from markets but this edition should. The Bank of Canada is going to look at this and see much more slack in the economy than they thought. That's going to mean a shift to the sidelines and perhaps for an extended period.
