The Associated Builders and Contractors Construction Backlog Indicator declined to 8.4 months in January, down from 8.6 months in December.
Wood Markets News
Mortgage Applications Decline in the Week Ending February 9th
Mortgage loan application volume decreased 2.3% on a seasonally adjusted basis from one week earlier, the MBA reported.
Element5 Receives Investment From the HASSLACHER Group; Plans to Expand Glulam Production in Ontario
Element5, a CLT producer, and the HASSLACHER Group jointly announced that HASSLACHER Group is acquiring a stake in Element5.
Consumer Price Index Increases 0.3% in January; All-Item Index Up 3.1% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in January on as seasonally adjusted basis.
Belarusian Timber Exports Continued to Expand in January
Belarusian sawn timber exports expanded in January, Belarus 1, a state-owned television channel, reported.
Commercial and Multifamily Borrowing Down 25% Year-Over-Year in 2023Q4
Commercial and multifamily mortgage loan originations were 25% lower in 2023Q4 when compared to 2022Q4, the MBA reported.
NFIB Small Business Optimism Index Trends Lower to Start 2024
The National Federation of Independent Business Small Business Optimism Index declined 2.0 points to a reading of 89.9 in January.
Rosboro Closes Springfield, Oregon, Stud Mill; Plans to Reopen in Two Years as Glulam Facility
Greater details have become available regarding Rosboro’s recent announcement that it was temporarily closing its Springfield, Oregon, stud mill, according to reporting by The Register-Guard.
Drax Begins Construction on Longview, Washington, Wood Pellet Manufacturing Facility
Drax, under its subsidiary Pinnacle Renewable Holdings, is building a plant in Longview, Washington, to manufacture wood pellets for power generation in Asia, The Daily News reported.
Mortgage Delinquencies Grow in 2023Q4
The delinquency rate for mortgage loans on 1–4-unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of Q4, the MBA reported.