The number of commercial mortgage delinquencies increased for the third consecutive quarter in Q3, the Mortgage Bankers Association reported.
Wood Markets News
US Job Openings and Labor Turnover Survey for October
As of the last business day in October, the number of job openings declined to 8.7 million, a loss of 617,000 job openings. The job opening rate decreased by 0.3 percentage points to 5.3%.
A Detailed Look at Private Residential Construction Spending in October
At a seasonally adjusted annual pace of $884 billion, total private residential construction spending was 0.7% higher year-over-year, according to the Census Bureau and NAHB.
Domtar’s Espanola, Ontario, Pulp and Paper Mill in Final Stages Needed to Idle the Plant
Domtar’s Espanola Pulp and Paper mill in Ontario has entered the final stage needed for the idling of the plant, Nip Impressions reported, citing local news sources.
Norvik hf Moves Closer to Completing the Purchase of Berg Timber AB
Norvik hf have shareholders approved the SEK1.54 billion ($143.50 million USD) public takeover offer of Berg Timber, according to Timber Trades Journal.
Melbourne, Australia’s Tallest Mass Timber Office Building is Completed, and a Second Is on the Way
Melbourne, Australia’s tallest mass timber office building has been completed, according to ArchitectureAU. The 15-story, 18,200 m2 building was built with sustainability in mind.
Canada’s 2022 Labor Shortages Cost Independent Businesses $38 Billion in Lost Revenue
Ontario small businesses missed out on over $16 billion (CAD) in revenue opportunities in 2022 because they had to turn away contracts or sales due to a labor shortage, according to a report by the Canadian Federation of Independent Business reviewed by Ontario Construction News.
Weyerhaeuser to Invest $96 Million in Its Dodson, Louisiana, Sawmill
Weyerhaeuser announced, through a press release issued by Louisiana Economic Development, that it is investing $96.2 million to modernize and decarbonize its lumber mill in Dodson, Louisiana.
BC Government Announces $6.49 Million in Additional Funding to Support Wood-Product Manufacturing
BC is contributing as much as $6.49 million (CAD) through the BC Manufacturing Jobs Fund to fund three capital projects and three planning projects.
US Monthly Construction Spending Increases Month-Over-Month and Year-Over-Year in October
Total construction spending during October was estimated at a seasonally adjusted annual rate of $2,027.1 billion, 0.6% above the revised September estimate.