Privately‐owned housing starts in August were at a seasonally adjusted annual rate (SAAR) of 1,283,000. This is 11.3% below the revised July estimate of 1,447,000.
Wood Markets News
Hood Industries to Close Its Sawmill in Metcalfe, Georgia
Hood Industries has announced plans to close its Metcalfe, Georgia, plant, according to reporting by The Thomasville Times-Enterprise.
Georgia-Pacific Announces the Pending Closure of Its Foley Cellulose Mill in Perry, Florida
Georgia-Pacific announced that it intends to permanently close its Foley Cellulose mill in Perry, Florida. Production will continue for a limited time.
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.