The Segezha Group’s Vyatka plywood mill in Kirov, Russia was experiencing a critical defect on the high-grade veneer the plant was producing.
Wood Markets News
Canadian Confidence Index Continues to Rise
The Bloomberg Nanos Canadian Confidence Index, a weekly composite measure of financial health and economic expectations, jumped to 45.4 last week from 42.9 a week earlier.
U.S. Mortgage Delinquency Rates Jump in May
As Americans struggled to pay their bills in May, the result of the ongoing COVID-19 pandemic, U.S. mortgage delinquency rates rose to 7.76%.
New Home Sales Soar Higher in May
The U.S. Census Bureau is reporting that sales of new single-family houses in May 2020 were at a seasonally adjusted annual rate of 676,000.
Construction Sector Jobs Increased in May
According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment in May increased in 49 out of 50 states and the District of Columbia.
International Accreditation Service® Announces Additional Requirements for Testing of Brazilian Plywood Being Imported into the U.S.
The International Accreditation Service® (IAS) announced, on Friday 6/19, additional requirements for IAS-accredited organizations conducting inspections or testing of plywood products manufactured in Brazil.
Trade Tensions Between China and Canada Increase and Logs this time are at the Forefront
Trade tensions between China and Canada have once again heated up and now logs are at forefront of a new dispute between the two countries.
Year-Over-Year Housing Inventory is 17.1% Below Last Year’s Level
According to the latest report released by Zillow, year-over-year housing inventory is now -17.1% below last year’s levels and there were -3.8% fewer new listings from the week before.
Bank of Canada Prepared to Support the Canadian Economic Recovery with Low Interest Rates
Tim Macklem, said that the bank remains focused on using its policy tools, including low interest, to support the recovery of the Canadian economy from the COVID-19 pandemic.
Existing Home Sales Fall -9.7% in May
The National Association of Realtors® is reporting that total existing-home sales slumped -9.7% from April to a seasonally-adjusted annual rate of 3.91 million in May.