The Canadian Real Estate Association (CREA) reported today (3-15-22) that national homes sales in Canada were up in February 2022, as buyers took advantage of early spring listings. Home sales recorded over Canadian MLS® Systems climbed 4.6% between January and February 2022.
Wood Markets News
Estonia’s Trade Associations Seek Tree Felling Relief During Russia–Ukraine War
A joint communique sent to Estonia’s Prime Minister Kaja Kallas from the Estonian Chamber of Commerce and Industry, the Estonian Employers’ Confederation, and the Trade Unions Confederation reads, “The war in Ukraine and the necessary sanctions it has caused have left Estonian companies short on materials that is mainly a risk for the forestry and timber sector and companies therein.”
Canadian Manufacturers Call On the CP Railway and the Teamsters Canada Rail Conference to Avoid Labor Disruption of Service
With a strike deadline just hours away, the Canadian Manufacturing Coalition (CMC), a group made up of 16 of Canada’s manufacturing trade associations, issued a statement urging the Canadian Pacific Railway and the Teamsters Canada Rail Conference to reach an immediate agreement and avoid labor disruptions.
Canadian Manufacturing Sales Increase for Fourth Consecutive Month in January 2022
Statistics Canada (StatsCan) reported today (3-15-22) that manufacturing sales rose for the fourth consecutive month—up 0.6% to $64.8 billion in January on higher sales in 14 of 21 industries, led by the petroleum and coal (+6.8%) and wood (+6.5%) product industries. The gain was partially offset by lower sales of motor vehicles (-17.5%).
Producer Price Index for Final Demand Increased 0.8% February 2022
The Bureau of Labor Statistics (BLS) reported today (3-15-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.8% in February. This rise followed advances of 1.2% in January and 0.4% in December 2021. On an unadjusted basis, final demand prices moved up 10.0% for the 12 months ended in February.
Saskatchewan’s Forestry Products Sales Hit New All-Time High in 2021
Saskatchewan’s forest sector hit an all-time record high of $1.8 billion in forestry product sales in 2021, up 60% from 2020, according to a press release from the provincial government. The forest industry has been rapidly expanding in the province.
Investment in Canadian Building Construction Increased in All Sectors in January 2022
Statistics Canada (StatsCan) reported today (3-14-22) that investment in building construction increased 3.4% to $19.1 billion (CAD) in January 2022, with gains posted in all components. On a constant dollar basis (2012=100), investment in building construction increased 4.0% to $12.1 billion.
Element5 at the Forefront of a Revolutionary New Way of Building
A feature article in the London Free Press on Monday (3-14-22) highlights a St. Thomas, Ontario manufacturer at the forefront of what is becoming a revolutionary new way of building. The company is Element5. Element5 manufactures wood beams and panels used in building construction.
Federal Reserve’s “Flow of Funds” Report Posts Largest Increase on Record in Q4 2021
According to the latest edition of the Federal Reserve’s Z.1 Financial Accounts of the United States (i.e., the “Flow of Funds), in Q4 2021, the aggregate market value of all owner-occupied real estate in the United States experienced the largest quarterly increase on record.
Russia Bans Export Sales of Wood and Wood Products to “Unfriendly” Countries
According to the Ministry of Industry and Trade of Russia, Russia will ban the export of wood and wood products to countries from “unfriendly” states, including the U.S. and the EU countries, until the end of 2022. The ministry notes that the ban will ensure the needs in the domestic market for affordable raw wood.