Malaysian plywood manufacturers are dealing with weak export demand, softening prices and reduced purchases from their largest trading partner, Japan, who is purchasing more panels from Indonesia, as well as having increased internal production.
Wood Markets News
Homebuyers Purchasing Power Increases in July, Only to be Offset by Greater Increase in Home Prices
According to Redfin, a Seattle based technology-powered residential real estate company, in July homebuyers purchasing power increased by 6.9%. This thank to the current historically low mortgage rates.
Bureau of Economic Analysis Reports Personal Income Increased in July
The Bureau of Economic Analysis (BEA) is reporting that personal income in July, increased to a seasonally adjusted annual rate (SAAR) of 420,043 billion. Up 0.4%, after a -1.0% drop in June.
Residential Construction Employment Grows in August but Nonresidential Construction Employment Declines
A closer examination of the Bureau of Labor Statistics (BLS) August total nonfarm payroll employment report, looking specifically at the construction sector, reveals that residential construction employment rose by 27,700 in August to 2.9 million.
Brazilian Exports of Wood-Based Products Increased 14.8 % in July 2020
According to the International Tropical Timber Organization the value of Brazilian exports of wood-based products (except pulp and paper) increased 14.8% in July to $268.8 million, when compared to July 2019, $ 234.1 million.
Total Nonfarm Employment Rises in August as Unemployment Falls
According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 1.4 million in August, and the unemployment rate fell to 8.4%.
Number of Homes For Sale in U.S. Declines for Twelfth-Straight Month in July
According to Redfin, a Seattle based technology-powered residential real estate company, the number of homes for sale declined for the twelfth-straight month in July, plunging near 20% to just 1.9 million homes – the lowest level of any month of July on record.
Kalesnikoff Mass Timber Selected Use at Three Canadian Educational Institutional Projects
Kalesnikoff, North America’s most advanced, vertically integrated, multi-species mass timber manufacture, located in Castlegar British Columbia, Canada, has announced three new mass timber projects at Canadian educational institutions.
Resolute Forest Products Thunder Bay Sawmill Passes Four Billion Board Feet of Processed Construction Grade Lumber Milestone
Resolute Forest Products, Thunder Bay sawmill has just passed an important milestone.
Mortgage Rates Inch Higher But Still Remain Below 3% in Week Ending 3rd September 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 3rd September 2020.