Wood Markets News


Canada’s Gross Domestic Product Contracted -0.3% in May

Statistics Canada (StatsCan) reported on Friday (7-30-21) that real gross domestic products (GDP) in Canada contracted -0.3% in May, following a -0.5% drop in April, and that total economic activity was approximately -2% below February 2020’s pre-pandemic level. Preliminary information indicates an approximate 0.7% increase in real GDP for June.

U.S. Consumer Sentiment Declines in July as Inflation Worries Continue to Grow

The University of Michigan today (7-30-21) released its second and final reading of Consumer Sentiment for July. According to the survey, U.S. consumer sentiment fell to a five-month low in July amid lingering concerns about inflation. The University of Michigan’s Consumer Sentiment Index (MCSI) fell to a final reading of 81.2, the lowest level since February, from June’s final level of 85.5.

Heavy Congestion at New Zealand Ports Leads to Logging Industry Frustration and Market Fluctuations

New Zealand forestry contractors are reporting that they are losing money, work, and jobs due to fluctuations in the timber markets and major delays at the country’s ports. Driven by extreme demand for logs from China and other international markets, New Zealand timberland owners in the first half of 2021 raced to harvest as many logs as possible to take advantage of record high prices.

TimberQuest Provides Innovative, Sustainable, Highly Efficient Solutions for Mass Timber Classrooms for California K–12 and Community Colleges

TimberQuest is the partnership between XL Construction, Milpitas, with Aedis Architects, San Jose and Daedalus Structural Engineering, based in Saratoga, and combines the organizations’ unique expertise in 21st century learning environments with mass timber design and construction.