Combining domestic and export sales, the industry recorded a 7 percent increase in sales.
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However, the real income fell by 12% compared to the previous year and 8% below the five-year average.
Construction added 25,000 jobs, including 11,000 jobs in heavy and civil engineering construction.
The felling volume in forest industry companies' forests and state-owned forests displayed a remarkable 25% surge from the previous year.
China has become the only major market for Russian lumber producers after Western sanctions were imposed on Russia over its invasion of Ukraine. Without sales to Europe, the sawmills of the North-West of Russia rushed to conquer China, where they faced competition from Siberian and Far Eastern sawmills.
All 20 major metro markets reporting month-over-month price increases.
Before the ban imposed in 2021, Australia annually supplied approximately 5 million cubic meters of roundwood to China.
While softwood inventory and log demand in China have remained stable, the anticipated increase in construction activity has not materialized.
Demand for biomass, including wood pellets, has increased remarkably quickly in Japan, from 1.0 million tons in 2018 to 4.4 million tons in 2022.
Since this year, the price of sawn timber from Sweden has started to rise after it reached its lowest level in three years in December.
For the first time since July 2022, the sentiment levels reached the midpoint mark of 50.
Overall, the Canadian manufacturing sector is showing signs of recovery and growth.
The survey by Realtor.com, which involved over 1,200 recent or potential home sellers, sheds light on the challenges faced by both buyers and sellers in the current real estate market.
The company cited significantly high log costs in British Columbia and a shortage of affordable economical fiber as reasons for the downtime.
The U.S. had experienced a significant underbuilding of housing stock, and with the millennial generation reaching home-buying age, there would be a growing need for additional housing.
The company anticipates a decrease in full-year 2023 comparable EBIT compared to the previous year.
This notable rebound indicates a potential turning point after witnessing substantial declines in previous months.
Wood products are 50% carbon by weight, making them the quintessential low-embodied carbon construction material that continues to store carbon for the life of the product. Producing materials from aluminium, glass, plastic, cement, or brick can require 126 times more energy than making them from wood.
Russian phenol producers have recently increased exports to Asia, reducing supplies to the domestic market.
Homeowner improvement and maintenance spending is expected to top out at $458 billion in the coming year, compared with market spending of $471 billion over the past four quarters.