Koskisen is a Finnish wood industry company that produces sawn timber and panel products. Koskisen uses Stora Enso’s bio-based binder, NeoLingo® by Stora Enso, which is replacing fossil-based resins used in furniture boards.
Wood Markets News
Canadian Unemployment Increases Month-Over-Month in July—Still Holds at Record Low Level
Statistics Canada reported on Thursday that 506,000 Canadians received regular Employment Insurance benefit in Julys. This is an increase of 14,000, or 2.9%, when compared to June. It was also the first increase since January 2022.
Canada’s Growing Population and Decades-Long Shortfall in Home and Apartment Building Continue to Impact Housing Availability
According to the recently released Re/Max Canada 2022 Housing Inventory Report, inventory levels in eight major Canadian housing centers have been dwindling over the past decade. And even with lower levels of real estate activity this year, affordability will be a growing concern along with availability.
Two-Thirds of Young Adults That Moved in With Parents During the Pandemic Are Still Living There
A recent LendingTree survey found that two-thirds of young adults who moved in with their parents during the COVID-19 pandemic are still living there. Fifty one percent said they moved home to out of necessity, while 49% said they moved home to save money.
Energy Crisis and Inflation Send EU Consumer Sentiment to New Record Low
A monthly gauge issued from the European Commission fell to -28.8 for September. That was in excess of analysts’ predictions of a -25.5 decline and has resulted in consumer confidence in the Euro-area sinking to its lowest level on record.
The Conference Board Reports US Leading Economic Index® Declined for 6th Consecutive Month in August
The Conference Board released today its Leading Economic Index® (LEI) for the US in August 2022. According to the report, the LEI declined 0.3% in August to a reading of 116.2 (2016=100), following declines of 0.5% in July and 0.7% in June.
Mortgage Rates Continued to Trek Higher in the Week Ending September 22, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending September 22, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 6.29% with an average 0.9 point, up from last week when it averaged 6.02%.
US Weekly Jobless Claims Increase for the Week Ending September 17, 2022
The US Department of Labor is reporting that seasonally adjusted an additional 213,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, September 17, 2022. This is an increase of 5,000 from the previous week.
Manitoba Provincial Government Signs Two More Forestry Revenue Sharing Agreements With Northern First Nations
The Manitoba provincial government said on Tuesday that it has signed memorandums of understanding on forestry revenue-sharing with two more Northern Manitoba First Nations. One of the agreements is with the Norway House Cree Nation and the other is with Chemawawin Cree Nation.
Stella-Jones Adds 43rd Wood Pole Manufacturing Facility With Purchase of Texas Electric Cooperatives Inc.
Stella-Jones Inc. announced that it had entered into a definitive agreement to purchase substantially all of the assets employed in the wood utility pole manufacturing business of Texas Electric Cooperatives, Inc for a total purchase price of $28 million (USD), plus an additional $4 million in inventories.