In August, real GDP was virtually unchanged for the second consecutive month as factors such as higher interest rates, inflation, forest fires, and drought continued to weigh on the economy.
Wood Markets News
Wisconsin Legislature Considers Increasing the Number of “Heavy” Forest Products Truck Routes
Wisconsin lawmakers are considering legislation that would increase the weight forest-products trucks can carry on additional routes near the Michigan-Wisconsin border, WPR reported.
BSW Timber Wins Approval to Expand Sawmill in Wales
BSW Timber was granted approval from Powys County, Whales, to create the first “super” sawmill in Wales, according to the Brecon & Radnor Express.
A Behind-The-Scenes Look At Asia’s Largest Timber Building at Singapore’s Nanyang Technological University
Global Construction Review is taking a behind-the-scenes look at the “Gaia” project at Singapore’s Nanyang Business School.
US National Interagency Fire Center Wildfire Update for the Week Ending October 27th
As of Friday, October 27th, 11 large wildfires have burned more than 122,231 acres in 7 states. Seven new large new wildfires were reported during the week.
BC Announces $300 Million Conservation Financing Program for Old-Growth Forests
BC is accelerating the protection of its old-growth trees while benefiting communities and wildlife by launching a new $300 million (CAD) Conservation Financing Mechanism.
Stora Enso Launches New Planting Model at Its Logging Sites in Finland
Stora Enso has launched a new operating model at its logging sites in Finland to improve the vitality and biodiversity of forests: reducing the density of planted spruce trees.
Uptick in Existing Homes For Sale Provides Home Buyers With Some Much-Needed Good News
Redfin reported that in the four-week period ending October 22nd, new listings of existing homes for sale increased 0.3% year-over-year.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in September
Personal income (PI) increased 0.3% month-over-month in September; disposable personal income (DPI) increased 0.3%; and personal consumption expenditures (PCE) increased 0.7%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for October
The University of Michigan Index of Consumer Sentiment declined to a reading of 63.8 in October, down from 67.9 in September. This is a month-over-month decline of 6.0%.