On Wednesday, the US Census Bureau reported that total construction spending during January was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1% below the revised December estimate of $1,827.5 billion. The January figure is 5.7% above the January 2022 estimate of $1,726.6 billion.
Wood Markets News
New Brunswick First Nations Sign Agreement with One Forestry Company Named in Land Title Claim
On Tuesday, CTV News reported that six Wolastoqey communities in New Brunswick, Canada, signed a memorandum of understanding with one of the companies named in a major lawsuit filed by the First Nations in 2020 (updated in November of 2021) seeking to reclaim title over large swaths of the province.
Russian Logging Volumes Declined 13.5% Year-Over-Year in 2022
According to a report emanating from TASS, a Russian state-owned news agency, citing data sourced from Roslesinforge, the forest accounting department of Federal Forestry Agency: “Last year, a total of 194.6 million cubic meters were harvested in Russia, which is 13.5% less than in 2021.”
Mortgage Applications Decline in the Week Ending February 24th
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending February 24th, the Market Composite Index (a measure of mortgage loan application volume) decreased 5.7% on a seasonally adjusted basis from one week earlier.
Brazilian Exports of Wood-Based Products Declined Month-Over-Month and Year-Over-Year in January
According to the International Tropical Timber Organization, in January Brazilian exports of wood-based products (except pulp and paper) declined 32.0% in value compared to January 2022, falling from US$393.9 million in January 2022 to US$267.3 million in January 2023.
Egger Investing $42 Million in Its Lexington, North Carolina, Facility
According to reporting by Woodworking Network, Egger has announced that it had recently started production on a third lamination line at its Lexington, North Carolina, facility. Egger will also install a decorative paper impregnation line.
Domtar Announces Agreement to Sell Its Dryden Pulp Mill to Quality First
Domtar Corporation, a wholly owned subsidiary of the Paper Excellence Group, and First Quality Enterprises, Inc. announced today that they have entered into an agreement to sell Domtar’s Dryden pulp mill to First Quality.
Federal Housing Finance Agency’s House Price Index Increased at an Annual Rate of 8.4% in 2022Q4
The Federal Housing Finance Agency reported today its House Price Index for December, as well as all of 2022Q4. Seasonally adjusted home prices in December were down 0.1% from November.
India’s Greenpanel Industries Orders Its Third DIEFFENBACHER MDF Plant
Greenpanel Industries, India’s largest MDF manufacturer, recently announced it has ordered its third MDF plant from DIEFFENBACHER. The new thin-board line will be added in Routhusuramala, Andhra Pradesh.
S&P CoreLogic Case-Shiller US Home Price Index Declined Again in December
On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for December. Home prices experienced a 5.8% annual gain in December, down from a 7.6% annual gain in November.