BCREA ECONOMICS NOW - Canadian Manufacturing and US Housing Starts
BCREA ECONOMICS NOW
Canadian Manufacturing and US Housing Starts - January 19, 2012
Canadian manufacturing sales bounced
2 per cent higher in November, following an 0.8 per cent monthly decline in
October. The gains were driven by higher sales in the petroleum and
coal products industries along with strength in the auto sector.
Total manufacturing sales were 1.7 per cent higher in volume terms.
Higher sales were reported in 80 per cent of the manufacturing sectors
surveyed. Sales by BC manufacturing firms grew 0.9 per cent month over
month in November and were almost 6 per cent higher than in November
2010.
South of the border, US housing starts (a key bellwether
for BC's forestry sector) fell 4.1 per cent in December, coming in at a
seasonally adjusted annual rate of 657,000 units. However, the pace
of housing starts in the fourth quarter of 2011 represented a post-recession
high, a strong signal that US home construction should continue to improve in
2012.
For more information, please contact:
Cameron Muir |
Brendon Ogmundson |
Chief Economist |
Economist |
Direct: 604.742.2780 |
Direct: 604.742.2796 |
Mobile: 778.229.1884 |
Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca |
Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
Your Vancouver Real Estate Specialist.
DavidValente.com
604-377-6015