In our current report, our view would be that right now capacity is relatively high, historically speaking, for the goods-producing sector. I believe it's around 85% of their estimated capacity. Going ahead we think that a lot of the investment that firms are going to be undertaking isn't just to replace old. It's adding to the capital stock. In our outlook, that provides a key driver to expanding the capacity for the economy and increasing potential output.
On October 31st, 2017. See this statement in context.