The Index of Consumer Sentiment fell to a reading of 57.7 in May, down from a reading of 63.5 in April. This is a month-over-month decline of 9.1% and down 1.2% year-over-year.
Wood Markets News
Arbec’s Lumber Mill in Lac-Saint-Jean, Quebec, to Suspended Sawmilling Through End of May
According to Le Journal de Québec, Remabec, the parent company and owner of the Arbec lumber mill located in Lac-Saint-Jean, Quebec, announced last Friday that it was suspending sawmilling activities at the facility until the end of May.
Construction Input Prices Down for Second Consecutive Month in April, Associated Builders and Contractors Reports
According to Associated Builders and Contractors analysis of Producer Price Index (PPI) data released Thursday, construction input prices increased 0.2% month-over-month in April. Nonresidential construction input prices rose 0.4%.
Three Pacific Northwest Universities to Share $1 Million Federal Grant to Research Mass Timber Innovations
Oregon Public Radio reported that The University of Oregon is partnering with Oregon State University, Washington State University, and more than 25 other organizations and agencies to research innovations in mass timber in the region.
Fannie Mae’s Home Purchase Sentiment Index® Climbs Higher in April
Fannie Mae on Monday released its Home Purchase Sentiment Index® for April. The HPSI increased to its highest level since May 2022, climbing 5.5 points to a reading of 66.8. Year-over-year, the full HPSI is down 1.7 points.
Mortgage Rates Inch Lower
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending May 11th. The 30-year fixed-rate mortgage averaged 6.35%, down from last week when it averaged 6.39%. A year ago, the 30-year rate averaged 5.30%.
Producer Price Index for Final Demand Resumed Its Upward Trek in April, Rising 2.3% Year-Over-Year
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.2% in April after declining 0.4% March. On an unadjusted basis, the index for final demand advanced 2.3% for the 12-month period ending in April.
US Weekly Jobless Claims Increase for the Week Ending May 6th
The advance figure for seasonally adjusted initial unemployment claims was 264,000 during the week ending on Saturday, May 6th. This is an increase of 22,000 from the previous week’s unrevised level of 242,000.
Canadian Monthly Value of Building Permits Increased in March
Statistics Canada reported Wednesday that the total monthly value of building permits in Canada climbed 11.3% in March to $11.8 billion (CAD). On a constant dollar basis (2012=100), the value of building permits was up 12.2% to $6.9 billion.
Consumer Price Index Increases 0.4% in April; All-Item Index Up 4.9% Year-Over-Year
The US Bureau of Labor Statistics on Wednesday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in April on a seasonally adjusted basis. Over the past 12 months, the all-items index has increased 4.9% before seasonal adjustment.