The Bureau of Labor Statistics reported today that the Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.1% in August. The August drop follows a 0.4% decline in July, but it was proceeded by advances of 1.0% in June, 0.8% in May, and 0.4% in April.
Wood Markets News
First 3D-Printed Multistory Building in US Underway in Houston, Texas
HANNAH, PERI 3D Construction, and CIVE, in collaboration with building industry partners, are in the process of 3D printing the first multistory printed structure in the US. The two-story single-family home in Houston, Texas, will integrate a customized architectural design and a resilient structural system.
Weyerhaeuser Reports Work Stoppage in Oregon and Washington State
According to an announcement by Weyerhaeuser on Tuesday, a work stoppage by employees is affecting its operations in Oregon and Washington. Approximately 1,200 members of the International Association of Machinist and Aerospace Works Union have walked off the job and are currently on strike.
Resolute Forest Products Breaks Ground on New Planer Mill at Its Senneterre, Quebec, Sawmill Facility
Resolute Forest Products held a groundbreaking ceremony to mark the start of construction on a new planer mill that will be next to its Senneterre, Quebec, sawmill facility. Plan to modernize were initially announced in July 2021 and also include the installation of automated sorting bins.
Canadian Investment in Building Construction Continued Its Upward Momentum in July
Statistics Canada reported today that investment in building construction continued its upward trend which commenced in October 2021, increasing 0.8% to $21.0 billion (CAD) in July. Both the residential sector and non-residential sector posted increases.
Consumer Price Index Increases 0.1% in August; Year-Over-Year All-Item Index Up 8.3%
The US Bureau of Labor Statistics reported on Tuesday that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in August on a seasonally adjusted basis. Over the past 12 months, the all-item index has increased 8.3% before seasonal adjustment.
Mortgage Credit Availability Declines for Sixth Consecutive Month in August
According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), mortgage credit availability declined for the sixth consecutive month in August. The MCAI declined 0.5% to a reading of 108.3 in August. The Conventional MCAI decreased 1.0%.
The NFIB’s Small Business Optimism Index Rises 1.9% in August
The National Federation of Independent Business (NFIB) reported today their NFIB Small Business Optimism Index (SBOI) for August 2022. The August SBOI increased 1.9 points to a reading of 91.8; however, it is the eighth consecutive month that the SBOI has been below the 48-year average reading of 98.
Two Wood Product Expansion Projects Coming to Dothan, Alabama
SmartLam North America has announced it will be investing $62 million to build a new 140,000-square-foot custom manufacturing plant with the capacity to produce 84 million board feet annually. SmartLam will also be adding equipment to fully automate its existing 225,000-square-foot facility.
Three More Unions Reach Tentative Agreements with US Class 1 Railroads; Four Others Continue to Negotiate
The National Carriers’ Conference Committee (NCCC), which represents the US freight railroads, announced on Sunday that three more railroad unions have reached a tentative agreement on a new labor contract with the NCCC. In total, eight unions have now accepted tentative deals.