Coronavirus: Industry & Market News

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Woodworking Firms See Increasing Impact Of Coronavirus

 

A Woodworking Network survey confirms that the impact of the pandemic on our industry continues to grow as more companies report a major or serious impact on their business. The breakdown: 35.7% of companies report a major impact; 40.9% a serious impact; 19.1% a minor impact; and 4.3% report no impact.

Source: Woodworking Network

 

See more updates, news, and market information below.

 

Updated 5-13-2020

 

Listen to Daniel Durden, Executive Officer of PA Builders discuss his state's plan to allow limited construction to begin at the end of this week

https://wilknews.radio.com/media/audio-channel/daniel-durden-pennsylvania-builders-association-4-23-2020

The impact of the Covid-19 pandemic on global and EU trade

https://trade.ec.europa.eu/doclib/docs/2020/april/tradoc_158713.pdf

All heading lower - February data shows early impact of pandemic on US wood products imports

https://www.fordaq.com/news/All_heading_lower_-_February_68069.html

5 Things to Know About Climate Change and Coronavirus With WHO Climate Lead Dr. Campbell-Lendrum

https://www.ecowatch.com/5-things-climate-change-coronavirus-who-2645813454.html

Live interviews with experts examining the linkages between COVID-19 and climate change

https://news.globallandscapesforum.org/43749/glf-live-with-robert-nasi-and-annika-terrana/.html

Virus cancels crucial season of managed fires

https://www.paysonroundup.com/catastrophe_a_forest_in_flames/virus-cancels-crucial-season-of-managed-fires/article_3116ed29-409f-59d7-ab11-131476f585de.html

How to keep workers healthy on the job - Employers can stagger breaks, deep-clean surfaces, limit meetings and offer on-site testing. Scott Gottlieb Resident Fellow, AEI

https://www.aei.org/op-eds/how-to-keep-workers-healthy-on-the-job/

The ‘new normal’: Thoughts about the shape of things to come in the post-pandemic world Nicholas Eberstadt and Henry Wendt Chair in Political Economy, American Enterprise Institute

https://www.aei.org/articles/the-new-normal-thoughts-about-the-shape-of-things-to-come-in-the-post-pandemic-world/

Fed Will Publicize Names of Facility Participants; Impact on Ultimate Borrowers Is Unclear
The Federal Reserve Board recently announced its commitment to publicizing substantial amounts of information on its facilities and programs that use funds authorized under the CARES Act. To a large degree, this move is required under section 13(3) of the Federal Reserve Act, which as amended by the Dodd-Frank Act of 2010 requires the Board to report the identities of the participants in its emergency lending programs. But the facilities established for COVID-19 relief are categorically different from those created for the 2008 financial crisis, because the participants are not the beneficiaries of the programs.

 

Previously

Impact of Virus on Wood Industry Will Continue Into 2021

April 8, 2020.  Virus will have impact on w#C36

U.S. GDP is expected to decline by 8% in 2020 with considerable uncertainty in 2021

Housing starts will fall off, tree planting will be curtailed, and global trade in wood products will also decline. Home remodeling, however, may actually rise in certain months in both 2020 and 2021.

Virus Now Impacting Home Buying Traffic For Nearly All Builders

http://eyeonhousing.org/2020/04/virus-now-impacting-traffic-for-nearly-all-builders/

U.S. Housing Supply Already Sees Hit From Covid-19

https://www.realtor.com/news/real-estate-news/u-s-housing-supply-already-sees-hit-from-covid-19/

Lumber And The Housing Market- A Rough Road Ahead

https://seekingalpha.com/article/4336828-lumber-and-housing-market-rough-road-ahead

Kitchen Cabinet Industry Changes In Structure

There were a number of changes in the cabinet industry, with the largest casualty in May when Wood-Mode in Pennsylvania closed, affecting more than 900 employees. Wood-Mode was purchased by Professional Building Systems who reopened the plant later in the year, but with only 235 employees. Even with a great number of changes in the industry, KCMA reported that 2019 cabinet sales were up 0.6% when compared to 2018. April 7, 2020.  Major FDMC 300 cabinet comp#D19

Green Building Programs Revise Inspection Procedures

As part of the ongoing COVID-19 pandemic response, organizations such as the EPA, the Residential Energy Services Network (RESNET) and Home Innovation Research Labs (HI) are adopting emergency procedures for their green building programs to protect the health and safety of rating providers using remote inspections with video and/or photo documentation for verification and the likelihood of additional documentation. April 7, 2020.  Green Building Programs Rev#B8A

Ohio building products supplier Granville Lumber permanently closes its doors after 75 years

https://timber.fordaq.com/fordaq/news/Ohio_building_products_supplier_Granville_67868.html

Coronavirus Forces New Approaches to Fighting Wildfires

https://www.nytimes.com/aponline/2020/04/09/us/ap-us-virus-outbreak-wildfires.html

Despite COVID, Amazon deforestation races higher

https://news.mongabay.com/2020/04/despite-covid-amazon-deforestation-races-higher/

Coronavirus reaches Amazon's isolated Yanomami tribe

https://www.aljazeera.com/news/2020/04/coronavirus-reaches-amazon-isolated-yanomami-tribe-200409060118202.html

Don't Look To Mature Forests To Soak Up Carbon Dioxide Emissions

https://www.sciencedaily.com/releases/2020/04/200408113300.htm

Quebec Shuts Down Non-Essential Services

Quebec has shut down wood product manufacturers from March 24 until midnight April 13, 2020 considering them non-essential services. 

SOURCE: Decorative Hardwoods Association, les boisés La Fleur, March 23, 2020.

New Zealand Forest Products Industry to Shut Down

The New Zealand wood processing and manufacturing industry was scheduled for a March 25, 2020 lockdown. The sector had not been classified as an essential business.

SOURCE: Global Wood Markets Info, March 25, 2020.  New Zealand's lockdown forc#6D9

Australia’s Construction Industry “On Brink of Collapse”

The Australian construction industry was in serious trouble even before COVID-19. This is the sentiment of Joe Barr, CEO of John Holland, one of Australia’s biggest infrastructure firms and a wholly owned subsidiary of China Communication Construction Company.

SOURCE: Wolf Street, March 22, 2020. Australia’s Construction In#807

Plywood Industry in India District Hit as Migrants Leave

Closure of shops and other establishments because of fear over COVID-19 have led to the exodus of migrant workers from various parts of the Kerala District in India. The production of the plywood industry has been reduced to half as migrants returned to their homes.

SOURCE: The Times of India, March 24, 2020.  Plywood industry hit as mig#6D6

NAHB Map Highlights Coronavirus-Related Exemptions

NAHB has produced a map that will be updated periodically that shows orders by state governments for the closure of non-essential businesses. 

SOURCE: LBM Journal, March 24, 2020. NAHB map highlights COVID-1#808

Virus Survey by the Associated General Contractors (AGC)

In the first weekly survey, AGC indicated that 28% of its members’ projects have been halted or delayed. 909 AGC members responded to the first survey.

For Construction Pros, March 20, 2020. Coronavirus Halts or Delays#809