In a poll conducted on May 26-28, by Reuters, 23 out of the 24 Canadian economists polled said they expected the Bank of Canada will hold interest rates at a record low of 0.25% until at least the end of 2021.
Wood Markets News
Year-Over-Year Construction Spending Up 3% in April
Total construction spending in April was 2.9% below the previous month but 3.0% above April 2019.
Single-Family Builders Turn to Incentives to Improve Sales and Limit Cancellations
More than half of single-family homes builders reported that they are using some form of incentives to improve sales.
Canfor Completes Purchase of Elliott Sawmilling Company Inc.
Canfor completes purchase of Elliot Sawmilling
Drought Poses Significant Threat to Austria’s Forestry Industry
Historical drought conditions threaten Austria’s forests
Mass Timber Construction up to 12 Stories Tall Approved By Vancouver B.C. City Council
The City of Vancouver, B.C., Council has just approved a by-law amendment which will allow, starting July 1st, 2020, mass timber construction up 12-stories for residential and commercial use.
Conifex Timber Inc., Extends Mackenzie B.C. Sawmill Temporary Curtailment to July 6th 2020
Conifex Timber Inc., has announced that it will further extend the temporary curtailment of operations at its Mackenzie, British Columbia sawmill for an additional five weeks to July 6, 2020.
Personal Income Surges 10.5% in April
Data recently released by the Bureau of Economic Analysis (BEA) is reporting that personal income surged in April to a seasonally adjusted annual rate (SAAR) of $ 20,674 billion.
International Monetary Fund Warns of Skewed Data due to COVID-19
According to its weekly blog post, the International Monetary Fund (IMF) is warning that key economic indicators may be skewed and perhaps less accurate, in the wake of the COVID-19 pandemic.
Home Prices Increase in 96% of U.S. Metro Areas in First Quarter of 2020
According to the latest quarterly report by the National Association of Realtors® (NAR), almost all of the nation’s metro areas experienced price growth and had minimal inventory increases in the first quarter of 2020.