According to the March ADP® National Employment Report™, nonfarm private sector employment private sector employment increased by 517,000 jobs from February to March. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.
Wood Markets News
West Frasier Updates Progress on Dudley Georgia Lumber Mill and Chambord Quebec OSB Mill
West Frasier announced on Monday, March 29, 2021 operational updates on their Dudley, Georgia lumber mill and Chambord, Quebec OSB mill. The Company’s OSB mill in Chambord has completed commissioning and panels are now being produced and shipped to customers.
Segezha Group Opens Russia’s First Cross-Laminated Timber Manufacturing Plant
Segezha Group, which is wholly owned by Sistema, is Russia’s leading wood processing holding company, and it has just started Russia’s first cross-laminated timber (CLT) panels plant in Sokol, Vologda region, 500 km northeast of Moscow.
S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index Reports Home Prices Gained in January
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index report, which covers all nine U.S. Census divisions, home prices gained 11.2% in January (on an annual basis), up from 10.4% increase in December 2020. The 10-City Composite annual increase came in at 10.9%, up from 9.9% in the previous month.
Federal Housing Finance Agency Reports January House Prices Increased 12% Year-Over-Year
According to the latest Federal Housing Finance Agency’s House Price Index (FHFA HPI®), house prices rose nationwide in January, up 1.0% from the December 2020 reading. Year-over-year house prices have increased 12.0% (January 2020 to January 2021).
The Conference Board Consumer Confidence Index® Surges Higher in March 2021
The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (2-23-21) their Consumer Confidence Index® (CCI), which surged in March to its highest reading in a year after a modest increase in February.
Shares of Mortgages in Forbearance Decline Below 5.0% in Week Ending March 21, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 9 basis points from 5.05% of servicers’ portfolio volume in the prior week to 4.96% as of March 21, 2021.
La Trobe University, Bundoora Campus, Home to Largest Mass Timber Project in the state of Victoria, Australia
The $100 million (A$) student accommodation project at La Trobe University, Bundoora campus, in north-east Melbourne Australia has been completed. The project, with 624-beds across two separate six-level buildings, marks the largest single investment in La Trobe University’s 50-year history.
Metsä Fibre Updates Construction Progress at New Rauma Finland Sawmill
Metsä Fibre, a part of Metsä Group, is reporting that the foundation stone has been laid and work continues at the site of their new sawmill in Rauma, Finland. Due to the coronavirus all of the stonework was done without any external participants.
New Zealand’s Sawmills Struggling to Keep Up with Increasing Domestic Demand
According to the New Zealand Timber Industry Federation (NZTIF), a flourishing domestic timber market for residential building and outdoor use has the countries lumber mills struggling to keep up current demand. One producer has gone so far as to completely stop supplying structural timber to some retailers. To meet the surge in domestic demand, some mills are diverting timber set for export back into domestic use.