On Tuesday, a tentative agreement was reached for over 9,000 workers at the Canada Border Services Agency (CBSA), averting potential job action later this week, CBC reported.
Wood Markets News
Total Value of Canadian Building Permits Increases 20.5% Month-Over-Month in April
The total value of building permits in Canada increased 20.5% month-over-month to $12.8 billion (CAD) in April.
Consumer Credit Growth Slows in Q1
Total outstanding US debt stood at $5.05 trillion in Q1, increasing at an annualized rate of 1.86% (seasonally adjusted), the Federal Reserve and NAHB reported.
US Asking Rents Crept Higher for Second Consecutive Month in May
The median US asking rent rose 0.8% year-over-year to $1,653 in May, the highest level since October 2022, Redfin reported.
NFIB Small Business Optimism Index Trends Higher in May but Remains Below 50-Year Average
The National Federation of Independent Business Small Business Optimism Index increased 0.8 points in May to a reading of 90.5 but remained below the 50-year average of 98.0.
FHFA All-Transactions House Price Index Posts 6.3% Year-Over-Year Increase in Q1
According to the Federal Housing Finance Agency’s all-transactions House Price Index, US house prices increased 6.3% between 2023Q1 and Q1.
Bloomberg Nanos Canadian Consumer Index Reaches Highest Level in Over Two Years
The index rose to a reading of 54 last week, the highest level since May 2022. Over the last month, the index has gained 3 points.
University of Toronto’s St. George Campus to Be Home to Tallest Academic Timber Structure in Canada
When completed in 2026, the 14-story building will become the tallest academic timber structure in Canada and one of the tallest mass timber and steel hybrid buildings in North America.
UK Imports Down but Prices Stabilize in Q1, Timber Development UK Reports
Timber imports saw weaker volumes during Q1 than in 2023Q1, and greater price stability for many timber and panel products has continued in recent months, TDUK reported.
Showcase in DC Demonstrates How to Build 2400-Square-Foot House in Just 8 Hours
The Structural Components Association in partnership with 84 Lumber and the National Framers Council built a two-story, 2,400 square-foot house on the National Mall in just under eight hours.