According to the Bloomberg Nanos Canadian Confidence Index, (BNCCI), a composite that measure the financial health and economic expectations, consumer sentiment in Canada turned positive for the first time since the COVID-19 pandemic began, with wide spread gains being experienced across regions and age groups.
Wood Markets News
Higher Lumber Prices Could Slow Housing Growth
Since mid-April 2020, the average lumber prices have surged an amazing 80%. Moving from a low of $348 per thousand board feet (MBM) to $ 627 MBM as of July 31st.
Canadian Housing Starts Jump 16% in July
The Canada Mortgage and Housing Corp. (CMHC) is reporting that the annual pace of housing starts in July rose nearly 16% when compared with June.
Redfin Reports Bidding War on Homes Intensified in July
Redfin, the Seattle-based real estate brokerage is reporting that for the third straight month, more than half of its home offers faced competition (bidding war) in July.
Consumer Credit Debt Increases in June
According to the Federal Reserve’s latest G.19 Consumer Credit Report, which tracks trends in consumer credit, excluding loans secured by real estate, in June consumer credit increased at a seasonally adjusted annual rate (SAAR) of 2.6% from the month of May.
Truckload Freight Rates for Spot Loads Continue to Increase
Typically, spot truckload freight rates decline in late July. However, this year has been anything, but typical and spot truckload rates have increased for the second week in a row according to DAT Solutions, which operates the DAT One Load Board Network.
Can Mass Timber Constructed Buildings Survive an Earthquake – Even “The Big One”?
The use of timbers in the building industry has been growing over the past decade.
COVID-19 Pandemic Slows Global Construction Activity in Q2 of 2020
According to the latest RICS Global Construction Monitor for Q2 2020, construction activity contracted across all region in Q2 due to the lockdowns to control the spread of the COVID-19 virus and the impact of social distancing on jobsite activity.
Job Opening and Labor Turnover Survey (JOLTS) for June 2020
The Bureau of Labor Statistics (BLS) has posted its Job Opening and Labor Turnover Survey (JOLTS) for June 2020. According to the JOLTS report the number of job openings increased to 5.9 million as of the last business day of June.
Residential Construction Employment Increases Again in July
A deeper look at the Bureau of Labor Statistics (BLS) Employment Situation report for July 2020, shows that total nonfarm payroll employment rose by 1.8 million in July.