The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in September.
Wood Markets News
US Consumer Credit Outstanding Shrinks Month-Over-Month but Rises Year-Over Year in August
Consumer credit outstanding reached $4.97 trillion (SAAR) in August, a monthly decrease of $15.6 billion, according the Federal Reserve and NAHB.
West Fraser Announces Third Expansion at Its Newberry, SC, Sawmill
West Fraser announced plans to invest $17.7 million in the third expansion in 10 years at its Newberry, South Carolina, sawmill facility, the Longview News-Journal reported.
Södra Announces Price Increases on Spruce and Pine Timber
Södra, citing strong demand for forest raw materials from family forestry, announced that it was raising the price for spruce and pine timber effective immediately.
Mortgage Credit Availability Increases for Second Consecutive Month in September
The Mortgage Bankers Association’s Mortgage Credit Availability Index increased 0.6% to a reading of 97.2 in September.
NFIB Small Business Optimism Index Declines in September, Remaining Below 49-Year Average
The NFIB Small Business Optimism Index (SBOI) declined 0.5 points to a reading of 90.8 in September.
Rayonier Advanced Materials to Temporarily Idle Témiscaming, Quebec, Paperboard Operation and One High-Yield Pulp Line
Rayonier is temporarily curtailing production at its Témiscaming, Quebec, paperboard operation and one of its high-yield pulp lines for 3 weeks, beginning on October 7th.
Fannie Mae’s Home Purchase Sentiment Index® Declines in September as Mortgage Rates Climb
In September, the Fannie Mae Home Purchase Sentiment Index® declined by 2.4 points to a reading of 64.5 as elevated mortgage rates continued to dampen already gloomy consumer housing sentiment.
US Asking Rents Little Changed Year-Over-Year but Down 2% Month-Over-Month in September
Redfin reported that the US median asking rent rose 0.4% year-over-year in September to $2,011. This marks the sixth consecutive month in which rents were little changed from a year earlier.
New “Le Berlier” Timber Tower Completed in Paris
Paris has gained a new timber tower, Le Berlier, according to a feature by designbloom. The structure rises fifty meters (165 feet) above street level and was designed by local architecture studio Moreau Kusunoki.