Canadian manufacturing sales increased for the fifth consecutive month, up 4.2% to $67.7 billion in February on higher sales in 14 of 21 industries, led by the motor vehicle (+25.0%), food (+5.3%), petroleum and coal (+6.7%), and wood (+8.5%) industries, reported Statistics Canada.
Sales of wood products rose 8.5% to $4.5 billion in February, driven primarily by higher prices and volumes. Wood product sales have been trending upward since September 2021. Prices of lumber and other wood products increased 6.4% in February 2022, while exports of forestry products and building and packaging materials posted a 5.6% gain. Sales of wood in constant dollars increased 5.4% month over month in February.
In Alberta, sales rose 7.2% to $8.4 billion in February, the fifth consecutive monthly increase, on higher sales in 13 of 21 industries led by the petroleum and coal (+12.3%), food (+6.4%), and wood (+16.0%) product industries. Sales in British Columbia increased 3.2% to $5.7 billion in February, primarily on higher sales of wood products (+8.4%). An increase in building and construction activities combined with supply chain disruptions surrounding wood manufactures resulted in higher prices and demand for softwood lumber. On a year-over-year basis, total sales in British Columbia rose 9.4% in February.
