The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment rose for the sixth consecutive month in October by 638,000.
News in covid 19
Respondents to FEA’s Weekly Order Survey Reported Experiencing Limited Follow Through from Last Week’s Modest Uptick in Jobsite Sales Activity
Respondents to FEA’s Weekly Order Survey reported experiencing limited follow through from last week’s modest uptick in jobsite sales activity. Dealers in the southern tier of states reported greater activity than their counterparts in the north, which is typical for this time of the year.
Norbord Inc., Announces Permanent Closure of 100 Mile House OSB Mill
Norbord Inc., announced today (11/5), that they are officially and permanently closing their oriented strandboard mill located in 100 Mile House British Columbia. Operations at the plant were suspended in early August 2019 and since then only a handful of workers have remained onsite for maintenance purposes.
Montana Sawmills Report High Demand and Higher Prices for Forest Products During Pandemic
Montana based sawmills are reporting that sawlog prices are reaching close to historic levels. F.H. Stoltze Land and Resource Manager Paul McKenzie in an interview with the Flathead Beacon newspaper said, “The product demand has increased dramatically in general forest products.”
U.S. Consumer Confidence at Lowest Point Since August
According to data released on Thursday (10/29) the Bloomberg Consumer Comfort Index (CCI), a weekly measure of U.S. consumer confidence, fell to a reading of 46.3 last week on a zero to 100 scale.
FEA’s Weekly Order Survey Participants Report a Slight Uptick in Jobsite Sales Activity
Dealers responding to FEA’s Weekly Order Survey noted a slight uptick in their jobsite sales activity. As the calendar moves into November, builders, especially in the northern tier, are rushing to get jobsites under roof and prepared for the onset of more winterlike weather.
Consumer Confidence Slips in October
In October, American consumers became more concerned about their prospects for employment, incomes and the economy. As a result, consumer confidence suddenly pulled back in October.
S&P CoreLogic Case-Shiller Report U.S. Home Prices Increase 5.7% in August
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, increasing demand and limited availability caused home prices to increase at a reported 5.7% annual gain in August, up from 4.8% in the previous month.
Truck, Rail, Air and Ship Freight Capacity Shortage Causing Freight Rates to Climb Higher
US retailers are stocking up for what they hope will be an outstanding holiday season. This despite the ongoing COVID-19 pandemic and unemployment numbers continue to edge higher. And, as of yet, no additional economic stimulus or increased unemployment benefits coming from Congress.
Newly Installed Stela Bed Dryer Helps Pinnacle’s Williams Lake Facility to Run Wider Array of Fiber
Wood pellet plants have long relied on sawmill residue as their source of fiber. However, recent mill closures due to weak lumber prices and the impact of the COVID-19 pandemic, along with pests and wildfires have all negatively impacted pellet plants ability to source from their typical fiber sources.