Decline in wood product sales across Canada
According to Statistics Canada, following two consecutive monthly declines, manufacturing sales rose 2.1% to $59.2 billion in June. Sales rose in 13 of 21 industries. Wood product sales posted the largest decline in June. Sales in constant dollars increased 2.2% to $49.1 billion in June, indicating a higher volume of goods sold. The Industrial Product Price Index was unchanged month over month in June, while the Raw Materials Price Index increased 3.9% month over month.
Following six consecutive monthly gains, wood product sales fell 5.7% to $5.1 billion in June, on lower volumes and prices. Sales of wood products in constant dollars declined 1.0%. Despite lower sales of wood manufacturing products in June, total exports of forestry products and building and packaging materials rose 4.4% and the value of building permits issued were up 6.9% on higher residential permits.