Manufactured Sales in Canada Fell -1.5% in July with Wood Products Leading the Decline

Statistics Canada (StatCan) reported today (9-14-21) that manufacturing sales fell -1.5% in July to $59.6 billion (C$), following a 3.6% increase in June. Sales were down in 12 of 21 industries, led by the wood products’ decline of -21.8% and aerospace products and parts falling -19.0%. However, on a year-over-year basis, manufactured sales were up 12.2% in July. Sales in constant dollars declined -1.7% to $48.9 billion in July, indicating a lower volume of goods sold.

The Industrial Product Price Index decreased -0.4% in July, while the Raw Materials Price Index rose 2.2%. Looking at wood products specifically, following a 5.8% decline in June, sales of wood products fell -21.8% to $4.0 billion in July, driven by a lower volume of sales and prices. Sales in constant dollars declined -3.9% in July, while the price of lumber and other wood products dropped -23.0%.

Exports of forestry products and building and packaging materials fell -12.7% in July.

In British Columbia, wood sales in July were down -24.1% month-over-month. In Quebec, the wood products industry posted its second month-over-month decline, down -25.5% to $941.2 million — the lowest level since October of 2020. Nonetheless, despite the recent declines, wood product sales were up 46.0% year over year in July.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source:
Monthly Survey of Manufacturing, July 2021