The National Federation of Independent Business reported today their NFIB Small Business Optimism Index (SBOI). The July SBOI increased 0.4 points to a reading of 89.9; however, it is the sixth consecutive month that the SBOI has been below the 48-year average reading of 98.
Wood Markets News
Australia’s Consumer Confidence Declines for Tenth Consecutive Month in August
Australia’s Westbank Corp., in a survey of 1,200 respondents released on Tuesday, reveals that Australia’s consumer sentiment continues to fall as surging inflation and interest rates increase, coupled with declining home values all weigh on the outlook for householders.
Fannie Mae Home Purchase Sentiment Index® at Lowest Level in a Decade
Fannie Mae today released its Home Purchase Sentiment Index® for July. The HPSI dropped 2.0 points to a reading of 62.8, its lowest level since 2011 and well below the all-time high that was set in 2019. Only 17% of respondents in the survey thought it was a good time to buy a home.
Michigan to Sell First Forest Carbon Market Credits From State-Owned Forestland
The State of Michigan has approximately 4 million acres of state-owned forestland. That is more than any other state in the US. These forestlands and their trees are now at the center of a new industry: forest carbon markets.
Australia’s Major City Skylines Could Soon Feature 50-Story Mass Timber Skyscrapers
In an effort to decarbonize and revitalize urban construction, Australia’s skylines may soon feature timber skyscrapers up to 50-stories tall. The proposed timber skyscraper buildings are made possible by using a hybrid construction and engineered mass timber around a concrete core.
Canadian Unemployment Edges Higher; Unemployment Rate Holds Steady in July 2022
Statistics Canada reported Canadian employment and unemployment statistics for July. Unemployment in July decreased by 31,000, and compared to May it was down 74,000, or 0.4%. The number private sector employees was little changed. From May 2021 to May 2022, employment had increased by 1,056,000, or 5.7%.
US National Interagency Fire Center Wildfire Update for August 8, 2022: 2 New Wildfires Reported
The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US has grown to 69, with more than 1.690,492 acres across 15 different states currently burning. Two large new wildfires have been reported within the past 24 hours.
Canada to Challenge US Softwood Lumber Duties Under USMCA
On Thursday, the US Department of Commerce issued the final determination on its third administrative review (AR3) of US imports of certain softwood lumber products from Canada. In response, Canada said that it intends to challenge the final determination, including through launching a dispute settlement process under the US-Mexico-Canada trade agreement (USMCA).
Domain Timber Advisors Announces Acquisition of 3,400 Acres of Southeast Timberland
Domain Capital Group, LLC, a private investment management services firm, and its subsidiary, Domain Timber Advisors, LLC, announced the acquisition of nearly 3,400 acres of timberland located in middle Georgia and south Alabama, which will further enhance the company’s Southeast portfolio.
Salvaged Logs From the Caldor Wildfire Arriving in Douglas County, NV, for Processing
The Caldor Wildfire burned 346 square miles between August and October 2021. Nine months later, salvaged logs from the Caldor Fire have begun arriving in Douglas County, and they will soon be processed into finish lumber at a sawmill in northern Douglas County.