Statistics Canada reported today that in January, investment in building construction in Canada increased 1.5% to $20.4 billion (CAD), with all components posting gains. On a constant dollar basis (2012=100), investment in building construction increased 2.4% to $11.9 billion.
Wood Markets News
Consumer Price Index Increases 0.4% in February; All-Item Index Up 6.0% Year-Over-Year
The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers increased 0.4% in February, on a seasonally adjusted basis, after increasing 0.5% in January and declining 0.1% in December. Over the past 12 months, the all-item index has increased 6.0% before seasonal adjustment.
Maine’s College of the Atlantic Soon to Be Home of New Residential Hall Built From Timber
The College of the Atlantic, located in Bar Harbor, Maine, is soon to be home to a new residential hall being built with a wooden structural design, according to reporting by the Bangor Daily News. However, while the state has ample forestlands, Maine itself does not manufacture such wood products.
Mortgage Credit Availability Shrinks for Third Consecutive Month in February
According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index report, which analyzes data from the ICE Mortgage Technology, mortgage credit availability decreased in February. Mortgage credit availability has declined eleven times in the past twelve months.
The NFIB’s Small Business Optimism Index Increased 0.6 Points in February
The National Federation of Independent Business reported on Tuesday its NFIB Small Business Optimism Index (SBOI) for February. According to the report, the February SBOI increased 0.6 points to a reading of 90.9—the fourteenth consecutive month that the SBOI has been below the 49-year average reading of 98.
Additional Financial Aid Available for Nova Scotia Private Woodlot Owners Impacted by Hurricane Fiona
Nova Scotia has announced that private woodlot owners will be receiving additional support to help them recover from the damage caused by Hurricane Fiona and promote the growth of healthy forests.
State-Level Construction Sector Employment Situation for January
A closer look at the US Bureau of Labor Statistics (BLS) Nonfarm Payroll Report for January reveals 40 states reported an increase in January when compared to December 2022. Conversely, 7 states reported jobs sector losses. Mississippi remained unchanged.
Alaska Legislature Looks to Move Lumber Evaluation Into Local Sawmill Operators’ Hands
A bill has been introduced into the Alaska State Senate that would allow local lumber to be used more readily in building projects in the state, reporting from KBBI shows. According to a press release from the Alaska Senate Majority, the state is struggling to meet an ongoing housing shortage.
Timber Imports into UK Decreased in 2022, but Outlook for Timber Usage Remains Optimistic
According to recently released statistics from Timber Development UK (TDUK) and reporting by the Timber Trades Journal, imports of the main timber and panel products in 2022 were 2.4 million m3 lower than in 2021. TDUK, however, sees reasons for a brighter outlook in 2023.
Stora Enso Teams With Plywood Manufacturer Paged to Replace Fossil-Based Glue With Lineo
Polish plywood manufacturer Paged has selected Stora Enso’s lignin product, Lineo, to replace fossil-based glue in its plywood manufacturing process, according to reporting by Timber Trades Journal Online.