May 11, 2022
– U.S. enacts measures to address rising inflation, influencing construction market outlook
The 2022 Structural Panel & Engineered Wood Yearbook has been released by APA – The Engineered Wood Association. The yearbook includes an analysis of the U.S., Canadian and global economies, focusing on factors that impact demand for engineered wood products across several market segments as a basis for forecasting expected production of engineered wood products. In addition to the analysis and forecast, the yearbook also includes historical data on engineered wood production. Topics examined in the yearbook include:
• Residential construction in the U.S. and Canada (new and repair/remodel)
• Nonresidential and industrial markets
• Outlook and production statistics for structural panels (oriented strand board and plywood), including historical data
• North American imports and exports
• Engineered wood product demand and production (glued-laminated timber, I-joists and laminated veneer lumber)
In mid-March, Federal Reserve Chair Jerome Powell said the Federal Reserve will raise the target range for the federal funds rate in 25 basis point steps and do so six more times in 2022. In June, the Fed intends to begin reducing the size of its balance sheet to tighten credit conditions in hopes of combatting the acceleration in inflation. Further tightening is likely in 2023, but the question is, will these steps be enough to bring the inflation rate back to more expected 2% to 3% levels?
The outlook for single-family, multifamily and nonresidential construction and industrial end-use markets remains mixed. The entire 2022 market forecast, including all market segments and production outlook, as well as statistical data, is included in APA’s 2022 Structural Panel & Engineered Wood Yearbook, Form MKO-E187. Please contact Cheryl Kuchar to purchase the yearbook at $300.
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About APA – The Engineered Wood Association
Founded in 1933 and based in Tacoma, Washington, APA represents about 175 plywood, oriented strand board, glulam timber, wood I-joist, Rim Board®, cross-laminated timber and structural composite lumber mills throughout North America. Its primary functions are quality auditing and testing, applied research and market support and development. www.apawood.org
U.S. enacts measures to address rising inflation, influencing construction market outlook