News
October U.S. Manufacturing Shipments Climb
Seasonally adjusted shipments for all U.S. manufacturing industries in October rose 0.7% from September to $555 billion. Wood product shipments were down 0.8% in October to $12.7 billion compared to the prior month. Shipments of furniture and related products were up 0.2% from September to $6.3 billion. New orders for all U.S. manufacturing increased 1%
Q3 U.S. Furniture and Wood Product Sales Decline
Third quarter 2022 U.S. wood product manufacturing sales decreased 12.2% from Q2 to $35.8 billion but rose 5.7% from the same period in 2021. After-tax profits dropped 36.1% to $3.9 billion over the prior three months and were 18% lower than the third quarter of 2021. Furniture sales were down 3.6% from Q2 to $20.4
Architectural and Custom Woodworking Industry Optimistic for 2023
Architectural and woodworking companies have a positive outlook for 2023 and anticipate a modest revenue increase for the upcoming year despite growing prices for materials, according to a recent Architectural Woodwork Institute Cost of Doing Business survey. Robust returns in the industry continued in 2022 with the Business Sentiment Index growing to 64%, 10 points
Canadian Building Permits Decrease in October
Canadian building permits in October dipped 1.4% from September to $10 billion (CAD) and were 6.3% lower than the year-ago period. Residential authorizations fell 6.4% from September to $6.5 billion and dropped 8.7% from October 2021. Single-family totals reached $2.9 billion, down 5.8% from September and 13.3% lower than the prior year. Multi-family levels shrank 6.9% from
YTD TFL Shipments Up 3.4%
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CPA Submits Brief on Canadian Environmental Protection Act Amendment
On November 21, CPA submitted a brief to the Canadian House of Commons supporting a proposed amendment to Senate Bill S-5, Strengthening Environmental Protection for a Healthier Canada Act. The amendment would require the government to evaluate existing measures and recommend new ones to ensure that manufactured goods entering the country meet the same environmental
October Canadian Construction Investment Grows Slightly
Canadian building construction investment in October was up 0.2% from September to $20.9 billion (CAD). Residential construction spending decreased 0.1% to $15.4 billion from September, while non-residential totals were 0.9% higher in October at $5.5 billion. Seasonally adjusted single-family construction spending declined 2.3% from September to $8.2 billion, marking the most significant drop since mid-2021.
HDI Rebrands as Adentra
Hardwoods Distribution, Inc. (HDI), Langley, BC, announced it will rebrand to Adentra, Inc., this week. Adentra is a distributor of architectural design products through the following brands: Novo Building Products, Mid-Am Building Supply, Rugby Architectural Building Products, Paxton Lumber and Hardwoods Specialty Products. See Adentra, Inc. and Press Release
UCS Forest Group Names Hoyt as New President
UCS Forest Group, Toronto, ON, promoted Bryan Hoyt to President, as Warren Spitz transitioned from President and CEO to Founder and CEO. Hoyt, previously the company’s COO, has 35 years of industry experience. UCS is a North American distributor and importer of hardwood lumber, specialty softwoods and decorative surfaces operating as Sierra Forest Products in
Laminate Technologies Promotes Joseph to President & CEO
Laminate Technologies, Inc., Tiffin, OH, announced that Randy Joseph was promoted from COO to CEO and President. Joseph has been with the company for over 27 years and succeeds owner Fred Zoeller. Laminate Technologies specializes in supplying custom laminated panel products and fabricated components. See Laminate Technologies
October U.S. Manufacturing Shipments Climb
Seasonally adjusted shipments for all U.S. manufacturing industries in October rose 0.7% from September to $555 billion. Wood product shipments were down 0.8% in October to $12.7 billion compared to the prior month. Shipments of furniture and related products were up 0.2% from September to $6.3 billion. New orders for all U.S. manufacturing increased 1%
Q3 U.S. Furniture and Wood Product Sales Decline
Third quarter 2022 U.S. wood product manufacturing sales decreased 12.2% from Q2 to $35.8 billion but rose 5.7% from the same period in 2021. After-tax profits dropped 36.1% to $3.9 billion over the prior three months and were 18% lower than the third quarter of 2021. Furniture sales were down 3.6% from Q2 to $20.4
