BCREA ECONOMICS NOW: Canadian Manufacturing Sales and US Housing Starts - April 16, 2013
BCREA ECONOMICS NOW
Canadian Manufacturing Sales and US Housing Starts - April 16, 2013
Canadian manufacturing sales increased 2.6 per cent in February, the largest increase since July 2011. Manufacturing strength was broad based with sales rising in 14 of 21 manufacturing subsectors. In BC, manufacturing sales rose 0.3 on a monthly basis in February, but were 3.1 per cent higher year-over-year.
Encouraging news for BC's manufacturers of wood products this morning as US housing starts broke through the 1 million unit threshold (at a seasonally adjusted annual rate). That is the highest pace of new home construction since June 2008 and a very encouraging sign that the US housing market is fully on the mend.
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 |
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