The Canadian forestry industry may not return to pre-recession production levels until after 2015, while the auto parts and aerospace industries are likely to exceed 2007-08 output by 2015, according to a report released on Thursday.
The report by the Conference Board of Canada and the Business Development Bank of Canada sees a slow recovery for the wood products, furniture manufacturing and paper products sectors, as well as printing services.
“Uncertainty is the watchword for all of these industries,” said Michael Burt, associate director for industrial and economic trends at the Conference Board. “The current global economic turbulence increases the general risk to these industry outlooks.”
Wood-products and furniture production is being depressed by the weak U.S. housing market, and digital media will hold back demand for paper products and printing, the report said. Paper-products manufacturing in particular suffers from excess capacity, it said.