In November, total consumer credit outstanding reached a seasonally adjust annual rate (SAAR) of $5.00 trillion for the first time, the Fed and NAHB reported.
Wood Markets News
NFIB Small Business Optimism Index Improves Modestly in December, but Owners’ Concerns Persist
The National Federation of Independent Business Small Business Optimism Index increased 1.3 points to a reading of 91.9 in December.
Metsä Group Announces Plans to Close Its Merikarvia, Finland, Sawmill Later This Year
Metsä Group intends to discontinue sawn timber production at its Merikarvia, Finland, facility by the end of the summer of 2024.
Poland Halts Logging in 10 of Its Oldest Forests
Poland has ordered a state-run company that manages more than 7 million hectares of the country’s forests to halt logging in the 10 oldest areas, Reuters reported.
Fannie Mae Home Purchase Sentiment Index Gets a Boost From Lower Mortgage Rates in December
The Fannie Mae Home Purchase Sentiment Index® increased 2.9 points in December to a reading of 67.2. Year-over-year, the full HPSI was up 6.2 points.
State-Level Analysis of Construction Employment in November
In November, construction sector jobs—including both residential and nonresidential—increased month-over-month in 27 states and declined in 20 states and the District of Columbia, NAHB reported.
US Median Asking Rents Decline for Third Consecutive Month in December
The median US asking rent fell 0.8% year-over-year to $1,964 in December, Redfin reported. Month-over-month, rents were 0.2% lower.
Alberta’s 2024 Wildfire Season Poised to Rival 2023’s Historic Fires, Experts Say
CTV News Edmonton interviewed experts from Environment and Climate Change Canada and Alberta Wildfire regarding the upcoming wildfire season.
Construction Sector Employment Increases in December, and Construction Unemployment Falls
Overall employment in the construction sector increased by 17,000 in December, following an increase of 6,000 in November, according to BLS and NAHB.
US Nonfarm Payroll Increases by 216,000 in December; Unemployment Steady at 3.7%
Total nonfarm payroll employment increased by 216,000 in December. Payroll employment increased by 2.7 million in 2023, an average monthly gain of 225,000.