Capacity Utilization Rate indicator is released by Statistics Canada and shows the percentage of available resources being utilized by manufacturers, builders, mines, oil extractors and utilities.
This one, while still being a second tier indicator, is important as it represents a leading indicator of consumer inflation and the explanation is quite simple: when nearing full capacity, usually producers increase prices.
The most important things to take into consideration when looking at the Capacity Utilization Rate indicator in Canada are:
- release date: quarterly, about 75 days after the quarter ends;
- release time: 12:30 GMT, during the North American trading session;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency;
- second tier data;
- low volatility levels expected.