News
April Canadian Wood Product Sales Decline
Seasonally adjusted Canadian wood product sales in April were $2.8 billion (CAD), down 5.5% from March and 38.6% lower than the comparable month last year. Sales of furniture and related products totaled $1.3 billion, decreasing 2.2% from March and dropping 5.4% over April 2022. Canadian manufacturing sales for all industries were $72.3 billion, rising 0.3%
Construction Investment Increases in Canada
Canadian building construction investment in April rose 0.4% from March to $20.3 billion (CAD). Residential construction spending dropped 0.7% from March to $14.4 billion. Seasonally adjusted single-family construction spending dipped 2.1% to $7.7 billion, marking the lowest amount since November 2021. Multi-unit levels were up 0.8% to $6.7 billion in April. Non-residential totals were 3.4%
May Canadian Housing Starts Weaken
The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in May was 202,494 units, 22.5% lower than April. The SAAR of urban starts decreased 24.3% from April to 182,842. Multiple urban starts dropped 30.5% to 139,890, while single-family levels rose 6.3% from April to 42,952. The trend in housing starts fell 4.2%
CPA Welcomes New Associate Member
The CPA Board of Directors recently voted to approve the following Associate Member. MasterBrand Cabinets LLC is one of the largest cabinet manufacturers in North America. The primary member representative is Aaron Songer, Senior Director-Sourcing. See MasterBrand Cabinets LLC. More Info: Jeannie Ervin
Timber Products Inspection Announces New CEO as Williams Retires
Timber Products Inspection, Inc. (TP), based in Peachtree, GA, announced current President, Jay Moore, has taken on the additional role of CEO following the retirement of Ronald Williams. Williams has been with the company for 30 years and will remain Chairman of the TP Board of Directors. See Timber Products Inspection
Q1 2023 U.S. Furniture and Wood Product Sales Decline
First quarter 2023 U.S. wood product manufacturing sales decreased 8.2% from Q4 2022 to $28.1 billion and fell 25.2% from the same period in 2022. After-tax profits increased 7.1% to $2.5 billion from the prior three months but were 61.5% lower than Q1 2022. Furniture sales were down 5.8% from Q4 to $19.1 billion and
CPA Fall Meeting Hotel Reservations Available
The CPA Fall Meeting will be held October 22-24 at the Lansdowne Resort in Leesburg, Virginia. The resort is located 12 miles from the Washington Dulles Airport (IAD) and is accessible to Reagan National (DCA) and Baltimore Washington (BWI) airports. Hotel reservations can now be made at the discounted room rate of $279 through September
International Testing Center Lab Staffing Update
Tim Smiley has been named Director of Laboratory Services at the International Testing Center (ITC), replacing Rebecca Giles, who departed in May. Tim joined the lab staff in 2021 as the Quality Manager. Elizabeth Baker is the new Laboratory Quality Manager. She earned her B.S. in Biology from Shepherd University and has more than seven years
The Future of Artificial Intelligence in Manufacturing Report Released
This week, NAM’s Manufacturing Leadership Council (MLC) released its survey report on “The Future of Industrial AI in Manufacturing,” which explores the role of artificial intelligence (AI) in the sector. The findings showed that 96% of responding manufacturing companies plan to invest in AI, with 57% currently experimenting with the tech and 28% already implementing
April Canadian Wood Product Sales Decline
Seasonally adjusted Canadian wood product sales in April were $2.8 billion (CAD), down 5.5% from March and 38.6% lower than the comparable month last year. Sales of furniture and related products totaled $1.3 billion, decreasing 2.2% from March and dropping 5.4% over April 2022. Canadian manufacturing sales for all industries were $72.3 billion, rising 0.3%
Construction Investment Increases in Canada
Canadian building construction investment in April rose 0.4% from March to $20.3 billion (CAD). Residential construction spending dropped 0.7% from March to $14.4 billion. Seasonally adjusted single-family construction spending dipped 2.1% to $7.7 billion, marking the lowest amount since November 2021. Multi-unit levels were up 0.8% to $6.7 billion in April. Non-residential totals were 3.4%