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.
Wood Markets News
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.
Fannie Mae is Reporting Consumer Confidence in Housing Dipped in July.
According to the latest Fannie Mae Home Purchasing Sentiment Index® (HPSI) consumer confidence, in housing dipped 2.3 points in July, to a reading of 74.
Brazilian Exports of Wood Products Decline Further in June 2020
The International Tropical Timber Organization (ITTO) is reporting that Brazilian exports of wood products (with the exception of pulp and paper) declined -8.5% year-over-year in June 2020.
Commerce Department Announces Preliminary Determination in their Antidumping Duty Investigation of Wood Mouldings and Millwork Products into the U.S. from China but not Brazil
The U.S. Department of Commerce (Commerce) announced its preliminary determination in the antidumping duty (AD) investigation of imports of wood mouldings and millwork products from China.
Nonfarm Payroll Employment Increases by 1.8 million in July
The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment rose by 1.8 million in July.
Norbord Announces Plans to Restart Line No.1 at Cordele Ga., OSB Mill Later in August
In their second quarter earnings report, Norbord announced that due to accelerating demand for OSB in North America, that they will be resuming a limited operating schedule, starting sometime in August, on Line 1 of its two-line Cordele, Georgia OSB mill.
Vietnam’s Wood and Wood Product Exports Increase in July
The Ministry of Agriculture and Rural Development of Vietnam is reporting that wood and wooden product exports in July were valued at $1.05 billion. A year-over-year increase of 6.2%.
FEA’s Weekly Order Survey Respondents are Reporting Their Sales Continue to Accelerate
Dealers responding to this week’s Weekly Order Survey remain positive about their current business’ status and are reporting that their sales continue to accelerate.