Import Price Index: Wood product manufacturing for Canada
COCANZ321 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.20
Year-over-Year Change
-18.32%
Date Range
6/1/2012 - 12/1/2018
Summary
The Import Price Index for Wood Product Manufacturing tracks the changes in prices of imported wood products in Canada. This metric is important for understanding trends in the Canadian wood products industry and trade.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Import Price Index for Wood Product Manufacturing measures the changes in prices of imported wood products, including lumber, plywood, and other wood-based materials. This index is used to analyze the competitiveness of domestic wood product manufacturers and the impact of international trade on the Canadian wood products market.
Methodology
The data is collected through surveys of importers and calculated using a Laspeyres formula.
Historical Context
This index provides insight into the Canadian government's trade and industry policies related to the wood products sector.
Key Facts
- The index base year is 2010.
- Wood products account for a significant portion of Canada's exports.
- Fluctuations in the index can impact the competitiveness of Canadian manufacturers.
FAQs
Q: What does this economic trend measure?
A: The Import Price Index for Wood Product Manufacturing measures the changes in prices of imported wood products in Canada, including lumber, plywood, and other wood-based materials.
Q: Why is this trend relevant for users or analysts?
A: This index is important for understanding trends in the Canadian wood products industry and trade, as well as the competitiveness of domestic wood product manufacturers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and calculated using a Laspeyres formula.
Q: How is this trend used in economic policy?
A: This index provides insight into the Canadian government's trade and industry policies related to the wood products sector, as fluctuations in the index can impact the competitiveness of Canadian manufacturers.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and limitations of government statistical agencies.
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Citation
U.S. Federal Reserve, Import Price Index: Wood product manufacturing for Canada (COCANZ321), retrieved from FRED.