STATS & FACTS
$8.6 billion
5% Housing starts were down nearly 5 per cent in September, to 271,068 units from 284,757 units in August. Single-detached and multi-family seasonally adjusted annual rate (SAAR) starts were both lower in Canada’s urban areas in September, which led to a decline in overall SAAR starts for the month. However, on a trend and monthly SAAR basis, the level of housing starts activity in Canada remains high in historical terms. Among Vancouver, Toronto and Montreal, Vancouver was the only market not to register growth in total SAAR starts, due to a decline in the multi-family segment. —Canada Mortgage and Housing Corp.
Revenue from veneer, plywood and engineered wood product manufacturing in Canada is expected to amount to approximately $8.6 billion US by 2024.
—Statista
4.4%
$55.8 billion
The Consumer Price Index inched higher in September, reaching 4.4 per cent — the highest year-over-year growth since February 2003. This figure reflects the rapid rise in consumer prices, which was mainly driven by higher production costs. Disruptions to supply chains, high shipping costs and a lack of truck drivers in Canada are expected to last until the first half of next year. As a result, supply chain disruptions will continue to keep prices elevated. —Conference Board of Canada
157,100 The Canadian economy added 157,100 jobs in September, pushing total employment beyond the 19 million mark for the first time since the pandemic’s onset. More than 90 per cent of employment growth stemmed from gains in the services economy. Across the goods economy, the performance was mixed. After an energetic start to the year, residential construction cooled over the summer and in September, construction employment fell by 10,900. However, these declines were offset by employment growth in manufacturing, up 22,100. Employment rose in the provinces of Ontario, Quebec and Manitoba. There was minimal change in British Columbia, Prince Edward Island and Nova Scotia. Despite the overall growth in employment, there was little progress in reducing the number of long-term unemployed. In September, 389,000 people were long-term unemployed, compared to 179,000 recorded prior to the pandemic. —Statistics Canada 20
\\ October/November 2021
The global wood flooring market is projected to reach $55.8 billion US by 2026. Changing lifestyles, growing urban population in the Asia-Pacific region, rise in spending on home renovations and increasing consumer demand for eco-friendly materials are some of the key growth drivers augmenting demand for this flooring type. Wider planks, longer boards, lighter and natural wood colours like white oak and matte sheen finishes are some of the emerging trends witnessed in the wood flooring space. At present, engineered products are dominating the wood market, owing to the increasing number of manufacturers that prefer this product due to its positive attributes that include cost efficiency and dimensional stability.
—ReportLinker
