The Associated Builders and Contractors Construction Backlog Indicator declined to 8.1 months in February, down from 8.4 months in January.
Wood Markets News
Fixed-Rate Mortgages Continue to Move Lower in the Week Ending March 14th
The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.88%, Freddie Mac reported.
Europe’s First College Building Entirely Constructed From Solid Wood Opens in the Netherlands
The Netherlands is now home to the first college building in Europe entirely constructed from solid wood, according to a profile by dezeen.
Producer Price Index for Final Demand Increases Month-Over-Month and Year-Over-Year in February
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.6% in February. This follows a 0.3% increase in January.
US Weekly Jobless Claims Inch Lower in the Week Ending March 9th
The advance figure for seasonally adjusted initial unemployment claims was 209,000 during the week ending March 9th, a decrease of 1,000 from last week.
Recent Forest Fires Have Quebec Questioning Its Long-Term Timber Harvest Projections
Quebec’s timber harvest targets are being called into question due to wildfires, climate disruption, and the province’s commitments to protect territory, Radio-Canada’s ICI Quebec reported.
Mass Timber Plant Being Developed in Nova Scotia Could Reap Economic Benefits Throughout the Region
A $215 million (CAD) mass timber manufacturing plant being developed in Nova Scotia could reap economic benefits that ripple through the region, Daily Commercial News reported.
US Dept. of Commerce Initiates Sixth Administrative Review of Duties on Certain Softwood Lumber Products From Canada
On March 5th, the US Department of Commerce initiated the sixth administrative reviews of the duty orders for certain softwood lumber products from Canada.
Enviva Announces Restructuring Support Agreements to Strengthen Its Financial Position
On Tuesday, Enviva, a producer of sustainably sourced wood-based biomass, announced that it has entered into two Restructuring Support Agreements.
Hampton Lumber Discusses Potential Mass Timber Investment at Burns Lake, BC, Council Meeting
Hampton Lumber met with the Burns Lake Council to provide an update about the sawmill industry in the town, the Burns Lake Lakes District News reported.