Georgia-Pacific announced that it intends to permanently close its Foley Cellulose mill in Perry, Florida. Production will continue for a limited time.
Wood Markets News
Commercial/Multifamily Mortgage Debt Outstanding Rises to $4.6 Trillion in Q2
The level of commercial/multifamily mortgage debt increased by $37.3 billion, or 0.8%, in Q2, according to the Mortgage Bankers Association.
Canadian Consumer Price Index Up 4.0% Year-Over-Year in August
The Canadian Consumer Price Index (CPI) increased 4.0% year-over-year in August, following a 3.3% increase in July. On a monthly basis, the CPI rose 0.4% in August.
Canadian Housing Starts Decline Month-Over-Month in August
The Canadian Mortgage and Housing Corporation reported that the standalone SAAR of housing starts declined 1% month-over-month in August to 252,787 units.
International Paper Sells Russia-based Joint Venture to Local Shareholders
Reuters reported that International Paper has sold its 50% stake in a Russia-based joint venture to local Russian shareholders.
Canadian Industrial Product and Raw Materials Price Indexes Increase in August
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.3% month-over-month in August.
Canadian Investment in Building Construction Declines in July
Investment in Canadian building construction fell 2.6% to $17.5 billion (CAD) in July. Single-family home construction investment decreased 5.5% to $5.8 billion.
US Builder Sentiment Declines For Second Consecutive Month in September
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes declined 5 points in September to a reading of 45.
USDA Announces $1 Billion in Competitive Grants to Plant and Maintain Trees in Urban and Suburban Areas
The Forest Service is awarding more than $1 billion in competitive grants to plant and maintain trees in cities, towns, and suburbs where more than 85% of Americans live, work, and play.
Mass Timber and Prefab Construction—Better Together
In an interview with Professional Builder, Todd Beyreuther, director of product at Mercer Mass Timber, highlighted how mass timber and prefab housing construction can be stronger together.