Wood Products Lead Manufacturing Sales

Manufacturing sales rose 3.1 per cent to $56.2 billion in January, following a 1.3 per cent gain in December, says Statistics Canada. Sales were up in 16 of 21 industries, driven mainly by the wood product, computer and electronic product, and primary metal industries. Motor vehicle manufacturing posted the largest decline. Sales of wood products rose 9.1 per cent to $4.1 billion in January, driven by higher prices and sales volumes. Prices for lumber and other wood products increased for the ninth time in 12 months, rising 10.8 per cent in January. This industry has been one of the main contributors to manufacturing sales increases since the easing of restrictions after the first wave of the pandemic. Exports of forestry products and building and packaging materials were up 10.7 per cent in January. The value of building permits issued in January increased 8.2 per cent. Manufacturing sales increased in eight provinces in January, led by Ontario and Quebec. Newfoundland and Labrador posted the largest decline.