The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.5% in October, following an increase of 0.4% in September.
Wood Markets News
Canfor Announces Extended Curtailment Plan for Its Polar Sawmill in Bear Lake, BC
Citing a shortage of economically available fiber in the region, Canfor Corporation announced it will curtail operations at its Polar Sawmill in Bear Lake, BC, following an orderly wind down of operations.
China Considering $137 Billion in Funding to Boost Urban Village Renovations and Affordable Housing
China plans to provide at least US$137.22 billion (1 trillion yuan) of low-cost financing to urban village renovation and affordable housing programs, Reuters reported, citing Bloomberg.
Kronospan to Purchase Roseburg Forest Product’s Simsboro, Louisiana, Particleboard Facility
Kronospan and Roseburg Forest Products jointly announced that they had executed a planned purchase and sales agreement between the companies.
Mortgage Credit Availability Increases for Third Consecutive Month in October
The Mortgage Bankers Association Mortgage Credit Availability Index (MCAI) shows mortgage credit availability increased in October.
Consumer Price Index Unchanged in October; All-Items Index Up 3.2% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October, on a seasonally adjusted basis, after increasing 0.4% in September and 0.6% in August.
University of California, Berkeley Constructing First Mass Timber Building on Campus
The University of California, Berkeley is breaking ground on the first mass timber building constructed on its campus, according to Berkeley News.
Canadian Rent Prices Continue to Climb Higher in October
Data released by Rentals.ca and Urbanation shows that October’s annual rate of rent growth in Canada was down from the 11.1% jump posted in September, CKPGToday and the Canadian Press reported.
NFIB Small Business Optimism Index Declines in October
The October National Federation of Independent Business Small Business Optimism Index (SBOI) declined 0.1 points to a reading of 90.7.
High Interest Rates and Limited Availability of Existing Homes for Sale Have Not Weakened Buyer Demand
According to Zillow, although mortgage rates remain close to 23-year highs and existing home inventory remains low, those factors seem to be spurring surprisingly strong competition.