In this edition:
- Goods-producing sector posts gains for first time in months
- Number of foreign visitors to Canada now at 93% of pre-pandemic levels
- Softwood lumber price hikes take lead in raw material cost rises
- Seaway warns local businesses of potential disruptions from Lock 8 upgrades
- Can convenience stores sell alcohol on Christmas, Boxing Day and New Year’s?
- Focus on Climate
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Photo credit: 安琦 王 / Adobe Stock
Goods-producing sector posts gains for first time in months
Real gross domestic product (GDP) increased 0.3% in October, following a 0.2% increase in September.
After four consecutive monthly declines, the goods-producing industries rose 0.9%, with mining, quarrying, and oil and gas extraction contributing the most to the growth in October. The services-producing industries edged up 0.1%, in large part due to increased activity in the real estate and rental and leasing sector.
Photo credit: Maksym Yemelyanov / Adobe Stock
Number of foreign visitors to Canada now at 93% of pre-pandemic levels
In October, US residents took 1.8 million trips to Canada, and residents of overseas countries took 491,300 trips. The number of non-resident arrivals (US-resident and overseas-resident arrivals combined) in Canada represented 93% of the number observed in October 2019, before the COVID-19 pandemic.
Photo credit: Dmytro / Adobe Stock
Softwood lumber price hikes take lead in raw material cost rises
Prices for lumber and other wood products (+5.7%) posted the largest month-over-month increase since March 2022 (+7.5%), leading the IPPI‘s monthly increase in November 2024. Higher prices for softwood lumber (+12.2%) drove the increase in this group, rising for the fourth consecutive month. This was the largest monthly increase in softwood lumber prices since January 2022 (+15.1%).
Picture credit: Wilding / Adobe Stock
Seaway warns local businesses of potential disruptions from Lock 8 upgrades
The St. Lawrence Seaway Management Corporation (SLSMC) will conduct infrastructure work at Lock 8 in Port Colborne, beginning January 2, 2025. This work is part of the $180 million, three-year investment in the Welland Canal, announced last month. It involves the installation of hands-free mooring (HFM) units at Lock 8, the final lock in the canal to receive this technology.
The SLSMC will make every effort to minimize noise and other impacts wherever possible, but disruption is a possibility for local residents and businesses.
Photo credit: bodnarphoto / Adobe Stock
Can convenience stores sell alcohol on Christmas, Boxing Day and New Year’s Day in Ontario?
This is our first Christmas with convenience stores selling alcohol in Ontario. Yes, convenience stores are allowed to sell beer, wine, cider and ready-to-drink alcoholic beverages on holidays, including on Christmas, Boxing Day and New Year’s Day.
But there are some rules to be aware of.
Did you know?
A strike at U.S. Starbucks stores has grown to include nearly 60 locations.
Focus on Climate
Competition Bureau clarifies expectations around new greenwashing rules
The Competition Bureau released draft guidelines on Monday that aim to clarify expectations around new greenwashing rules.
The new laws that were passed in June require companies to be able to substantiate environmental claims they make.
The rules have sparked concern and confusion as to how far they go, and what businesses are able to say. Soon after the law passed, the Pathways Alliance group of oilsands companies removed all content from its website and social media feeds, citing uncertainty over the rules.
The concerns led the bureau to accelerate its release of the guidance that it’s now seeking feedback on until Feb. 28, 2025.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
