The Chronicle Journal reported that Canada and the United States have agreed to replace an outdated and inefficient “ad hoc” approach to helping each other battle forest fires with a new formal agreement.
Wood Markets News
State-Level Analysis of Construction Sector Employment for May
Analysis provided by the National Association of Home Builders reveals that 23 states reported an increase in construction jobs in May compared to April, while 21 states lost construction sector jobs.
UK Construction Activity Expected to Contract Further During Remainder of 2023
Industry analyst Glenigan said on Thursday in a report featured in Construction News that new construction work in the UK will dry up so much in 2023 that it will take more than two years to recover.
New Timber Office Park Planned for Amsterdam
Archinet News is reporting that De Zwarte Hond, a European design bureau for architecture and urban design, has designed a timber office building for Dutch energy company Alliander.
Georgia-Pacific Completes Upgrades at Its Pineland Lumber Sawmill Facility in Texas
Georgia-Pacific announced that it has completed the $120 million capital improvement project at its Pineland Lumber sawmill facility, located in Pineland, Texas. After the upgrades, Pineland is now GP’s largest sawmill in the South.
US Existing-Home Sales Inched Higher Month-Over-Month in May
The National Association of Realtors® reported that total existing home sales recorded a 0.2% increase in May from April to a seasonally adjusted rate of 4.30 million homes. Year-over-year, sales are down 20.4%.
UK’s Largest Full Timber Structure to Be Built in London
Central London is set to have the UK’s first mass timber office block, Time Out reports. Being built by Piercy&Co, the new nine-story building is being constructed using 100% renewable energy and is set to be carbon net zero.
Fixed Mortgage Rates Creep Lower in the Week Ending June 22nd
The 30-year fixed-rate mortgage averaged 6.67%, down from last week when it averaged 6.69%. A year ago at this time, the 30-year FRM averaged 5.81%.
US Leading Economic Index® Declined Further in May, The Conference Board Reports
The Conference Board Leading Economic Index® (LEI) for the US declined 0.7% in May to a reading of 106.7 (2016=100), after posting declines of 0.6% in April and 1.2% in March. The LEI has dropped 4.3% over the six-month period from November 2022 to May.
US Weekly Jobless Claims Unchanged in the Week Ending June 17th
The advance figure for seasonally adjusted initial unemployment claims was 264,000 during the week ending on Saturday, June 17th. This is unchanged from the previous week’s revised level. The 4-week moving average was 255,750—an increase of 8,500.