US nonresidential construction spending declined 0.4% month-over-month in January, the Associated Builders and Contractors and Census Bureau reported.
Wood Markets News
Canadian Government Finalizes Deals With Cities to Help Accelerate Home Building
Canada announced that the federal government has signed 179 housing deals via the $4 billion (CAD) housing accelerator fund, The Canadian Press reported.
Home Buyers Need to Earn $47,000 More a Year Than in 2020 to Comfortably Afford a Home
Homebuyers need to make in excess of $106,000 a year to comfortably afford a home, 80% more than in January 2020, Zillow reported.
Canadian Lumber Production and Shipments Decline Month-Over-Month but Increase Year-Over-Year in December
Canadian lumber production declined 22.6% month-over-month to 3,432.4 thousand cubic meters in December.
US Private Single-Family Construction Spending Increases in January
Construction spending rose 0.2% in January, the second consecutive gain, the Census Bureau and NAHB reported.
Mercer Mass Timber Launches New Construction Services Division
Mercer Mass Timber announced the launch of its mass timber erection division: Mercer Mass Timber Construction Services.
Timberlink Opens NeXTimber Manufacturing Facility in Tarpeena, South Australia
Timberlink has opened its NeXTimber® by Timberlink® manufacturing facility and upgraded its green mill in Tarpeena, South Australia.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in January
The value of Brazilian exports of wood-based products (except pulp and paper) increased 13.0% year-over-year in January, the ITTO reported.
US Construction Spending Declines Month-Over-Month in January, But Remains Up Year-Over-Year
Total construction spending during January was estimated at a SAAR of $2,102.4, 0.2% below the revised December estimate of $2,105.8 billion.
Metsä Group Parent Company Announces Divestiture of Its Estonia Wood Supply Business
Metsä Group’s parent company Metsäliitto Cooperative will sell its wood supply business in Estonia to Combiwood Forest OÜ, an Estonian company owned by Combiwood Grupp OÜ.