February 2008

Building Permits
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,048,000. This is 3.0 percent below the revised December rate of 1,080,000 and is 33.1 percent below the revised January 2007 estimate of 1,566,000.
 
Single-family authorizations in January were at a rate of 673,000; this is 4.1 percent below the December figure of 702,000. Authorizations of units in buildings with five units or more were at a rate of 336,000 in January.

Housing Starts
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,012,000. This is 0.8 percent above the revised December estimate of 1,004,000, but is 27.9 percent below the revised January 2007 rate of …

Raw material and energy costs topped the list of cost pressure concerns in 2008, according to a recent survey by Prime Advantage, a buying consortium for small and mid-sized manufacturers, focused on the top economic concerns in 2008. Respondents to the Group Outlook Survey included business owners, vice presidents of procurement and purchasing directors.
 
More than 46 percent of respondents agreed that raw materials (including stainless steel, nickel, copper and other metals and plastics) were a major concern in 2008. Energy costs were the second biggest concern, with 17.5 percent and logistics and supply chain costs followed closely at 16.4 percent in agreement.
 
Inflation (8 percent), labor (4 percent), foreign competition (3.4 percent), overhead costs (2.8 …

Canadian wholesalers reported a sharp decline in sales in December, erasing all of the gains made over the previous months. Despite the drop in December, preliminary figures indicate that wholesalers put in another solid performance in 2007.
 
Sales fell 2.9% in December to $42.7 billion, ending a string of three consecutive monthly increases. The decline was the largest since April and brought monthly sales to their lowest level since November 2006.

Overall, five out of seven wholesale sectors reported weaker sales in December. The automotive products sector accounted for around half of the overall decline, dropping 8.1% during the month.

Wholesalers outside of the automotive products sector fared little better, …