Manufacturing sales hit $54.2 billion in December as renos push up lumber prices | iNFOnews | Thompson-Okanagan's News Source

Current Conditions

Light Rain
10.1°C

Manufacturing sales hit $54.2 billion in December as renos push up lumber prices

Mill workers are seen at in Merritt, B.C., Tuesday, May 2, 2017. Statistics Canada says manufacturing sales rose 0.9 per cent to  $54.2 billion in December, led by sales of wood products, transportation equipment, and petroleum and coal products. THE CANADIAN PRESS/Jonathan Hayward
February 15, 2021 - 8:53 AM

OTTAWA - Statistics Canada says manufacturing sales rose 0.9 per cent to $54.2 billion in December,led by sales of wood products, transportation equipment, and petroleum and coal products.

The agency says there were record-high sales of wood products in the final month of 2020, as higher lumber prices pushed sales up 8.3 per cent to $3.7 billion in a rush of new home sales and renovations.

Petroleum and coal product sales rose 4.7 per cent to $4.2 billion amid higher energy prices in December, and there was a 26.9 per cent uptick in sales of railroad rolling stock, as transportation equipment sales rebounded.

The December report comes as wood manufacturers coped with shortages and supply constraints amid a renovation boom last year — while manufacturers of transportation equipment and coal and petroleum products vied for a turnaround.

Transportation, coal and petroleum accounted for three quarters of last year's decline in manufacturing sales, which dropped 11.4 per cent to $610.6 billion in 2020 as the COVID-19 pandemic led to widespread shutdowns and scaled-back production.

Statistics Canada says in December, manufacturing sales rose in nine provinces but fell in Ontario, where sales slid for chemicals, plastics and rubber products and the COVID-19 pandemic hit Toronto manufacturing sales harder than other cities.

This report by The Canadian Press was first published Feb. 15, 2021.

News from © The Canadian Press, 2021
The Canadian Press

  • Popular penticton News
View Site in: Desktop | Mobile