Lumber production increased 7.6% to 4,251.3 thousand cubic meters in October. However, year-over-year, production was down 5.2%.
Wood Markets News
US Residential Construction Inputs Price Growth Moderates in 2024
The price of goods used in residential construction grew 1.7% in 2024, slightly higher than the 1.0% growth in 2023, the BLS and NAHB reported.
US Producer Price Index for Final Demand Increases in December
The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.2% in December, following an increase of 0.4% in November.
Fannie Mae Home Price Index Rises 5.8% Year-Over-Year in Q4
The Fannie Mae Home Price Index increased 5.8% year-over-year in Q4, an acceleration from the previous quarter’s revised annual growth of 5.4%.
NFIB Small Business Optimism Index Reaches Highest Level Since October 2018
The NFIB Small Business Optimism Index increased 3.4 points to a reading of 105.1, the highest reading since October 2018.
Interfor Completes Sale of Its Québec Operations
Interfor has completed the previously announced divestiture of its operations in Québec, Canada, to Les Chantiers de Chibougamau Ltée.
US Construction Employment Increases in December
Employment in the construction sector increased by 8,000 jobs in December, following a matching gain in November, the BLS and NAHB reported.
UK Timber Import Volumes Rise 15% in October, TDUK Reports
UK timber and panel product imports were much higher in October, resulting in an overall 15% uplift in imports, TDUK reported.
Canadian Firefighters Join Fight to Contain Southern California Wildfires
Dozens of firefighters from Alberta and British Columbia will help fight wildfires in California, and the federal government is coordinating efforts to deploy resources, The Canadian Press reported.
Hybrid Timber Tower Proposed for Perth, Australia
A proposed hybrid timber tower is set to bring 351 apartments, 64 short-stay units, and retail spaces to Perth, Australia, The Urban Developer reported.