The 2020 Mid-Year Economic Update_long

Day: September 6, 2007

July Construction Permit Issues Slow in Canada

Source: Statistics Canada

Construction intentions cooled down in July as the value of building permits declined, halting two months of record-setting performances. Municipalities issued building permits worth&nbsp ; $6.2&nbsp ; billion, down&nbsp ; 11.3% from&nbsp ; $6.9&nbsp ; billion in June.

Still, July was one of only a handful of months in which permits exceeded the $6-billion mark.

At&nbsp ; $6.9&nbsp ; billion in both May and June, the total value of permits was at its highest level on record.

Losses occurred in both the residential and non-residential sectors. The value of residential permits fell&nbsp ; 6.3% to&nbsp ; $3.8&nbsp ; billion, with declines in both the single-family and multiple-family components.

Report: Manufacturing Showed Resiliency in 2Q

While there will likely be significant deceleration in manufacturing growth in 2007, the second quarter showed signs of resiliency, and 2008 looms as an improvement, according to the MAPI Quarterly Industrial Outlook, a report that analyzes 27 major industries.
&nbsp ;
Manufacturing industrial production expanded at a 3.9 percent annual rate in second quarter 2007, far better than the weak 0.8 percent in the first quarter. For the year as a whole, though, the report predicts that manufacturing production growth will decelerate from the 4.7 percent recorded in 2006 to 2 percent growth in 2007, before rebounding to 2.9 percent growth in 2008.
&nbsp ;
An improvement in manufacturers' exports in most industries and the end of an inventory drawdown explains the bounce back in ...

3M Agrees to Buy Venture Tape

3M, St. Paul, MN, has agreed to acquire Venture Tape Corp., a supplier of pressure sensitive adhesive tapes based in Rockland, MA.
&nbsp ;
Venture Tape manufactures tapes used in construction, oil and gas, heating, ventilation and air conditioning (HVAC), electronics, aerospace, marine and appliance markets. It also provides specialty industrial tapes complementary to 3M's specialty tape product line used in splicing, automotive and automotive aftermarket applications.
&nbsp ;
This acquisition broadens our pressure sensitive adhesive tape platform, brings new channels to 3M, and allows us to expand into adjacent markets such as construction," said Patrick Deconinck, division vice president, 3M Industrial Adhesives and Tapes Division.
&nbsp ;
Venture Tape employs ...