Quarterly financial statistics for Canadian enterprises

Statistics Canada

The Canadian corporate sector saw a quarterly increase of 2.8% in net income before taxes (NIBT) during the third quarter of 2021.

From July to September 2021, the lumber and other wood products component of the Industrial Product Price Index decreased by 20.0%, slipping from its peak in May 2021. Even as lumber prices fell, the price index for logs and bolts increased and reached an all-time high during the third quarter of 2021, in part due to high stumpage rates in British Columbia.

Production volumes of lumber fell in July as certain producers curtailed operations. Additionally, rail line damage inflicted by wildfires burning across British Columbia created backlogs that prevented wood products from reaching their intended markets. Though production and shipment volumes partly recovered in August, they remained below the levels recorded in August 2020. As a result, NIBT for wood product and paper manufacturing decreased 12.4% from the second quarter to the third quarter of 2021.

The non-financial sector drove the increase during the quarter, recording an increase of 5.6% in NIBT. The financial sector offset some of the gains made by the non-financial sector, slipping 1.6% during the period. Through the quarter, businesses saw input prices and prices for raw materials rise as supply chains were disrupted across the world, and many advanced economies began to observe inflationary pressures.

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