Canadian payroll employment declined by 88,300, or 0.5%, in November. This follows a decline of 24,000, or 0.1%, in October.
Wood Markets News
Paper Excellence to Indefinitely Curtail Paper Production at Its Catalyst Crofton Facility in BC
Paper Excellence Canda announced it will indefinitely suspend paper production at its Catalyst Crofton facility on Vancouver Island.
US Pending Home Sales Grow 8.3% Month-Over-Month in December
The National Association of Realtors® Pending Home Sales Index was 8.3% higher in December, climbing to a reading of 77.3.
US Existing-Home Prices Increased in the Early Weeks of 2024, Redfin Says
For the four-week period ending January 21st, the median sales price of US existing homes increased 5.1%, Redfin reported.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in December
Personal income (PI) increased 0.3% month-over-month in December; disposable personal income (DPI) increased 0.3%; and personal consumption expenditures (PCE) increased 0.7%.
Boise Cascade to Invest $140 Million to Support Its Engineered Wood Products Growth Strategy in Alabama and Louisiana
Boise Cascade announced new investments totaling $140 million over the next two years in its Alabama and Louisiana facilities in support of its EWP growth strategy.
New US Residential Single-Family Home Sales Up 8.0% Month-Over-Month in December
New residential single-family home sales were at a SAAR of 664,000 in December, 8.0% above November and 4.4% above December 2022.
Fixed-Rate Mortgages Climb in the Week Ending January 25th
The 30-year fixed-rate mortgage averaged 6.69%, up from last week when it averaged 6.60%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 3.3% in 2023Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 3.3% in Q4, the BEA said in its “advance estimate. That follows a reported real GDP increase of 4.9% in Q3.
Mortgage Application Payments Move Lower in December
The Mortgage Bankers Association’s Purchase Applications Payment Index fell 3.8% to a reading of 161.8 in December, down from 168.2 in November.