Norra Timber continues to invest in its sawmill in Hissmofors, Sweden, with up to SEK 150 million (US$14.12 million) being spent in three separate stages.
Wood Markets News
Canadian New Housing Price Index Unchanged for Second Consecutive Month in September
Nationally, the index rose 0.2% year-over-year in September compared with an annual decline of 1.0% in September 2023.
US Forest Service Announces Grant Opportunities to Strengthen Forest Products Economy and Jobs
The Forest Service announced that it is making up to $34 million in funding available to support innovation and jobs in the forestry sector while supporting healthy forest landscapes.
University of Michigan Reports the Final Results of Its Consumer Sentiment Index for October
The University of Michigan Index of Consumer Sentiment increased 0.6% to a reading of 70.5 in October.
US New Residential Single-Family Home Sales Increase 4.1% in September
New residential single-family home sales for September were at a seasonally adjusted annual rate of 738,000, 4.1% above the revised August rate.
US Mortgage Rates Move Higher for the Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.54%, up from last week when it averaged 6.44%, Freddie Mac reported.
Canadian Rail Traffic Falls in August, Negatively Impacted by Work Stoppage
Canadian railways transported 27.8 million tons of freight in August, down 10.9% year-over-year.
Norfolk Southern’s Brosnan Forest to Provide Timber for New Building at Clemson University
NS will provide timber for the construction of a Department of Forestry and Environmental Conservation building project at Clemson University.
US Weekly Initial Jobless Claims Continue to Decline in the Week Ending October 19th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 15,000 from the previous week.
Bank of Canada Lowers Interest Rate by 50 Basis Points
The Bank of Canada reduced its target for the overnight rate to 3.75%, with the Bank Rate at 4.0% and the deposit rate at 3.75%.