BCREA ECONOMICS NOW
Canadian Manufacturing Sales and US Housing
Starts
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.
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