Real GDP declined 0.2% in June, following a 0.2% increase in May. Both service-producing industries and goods-producing industries contracted.
Wood Markets News
US Construction Spending Increases 0.7% Month-Over-Month in June
Total construction spending during July was estimated at a seasonally adjusted annual rate of $1,972.6 billion, 0.7% above the revised June estimate of $1,958.9 billion.
Real Estate Investor Home Purchases Declined 45% Year-Over-Year in Q2
Investor home purchases declined 45% year-over-year in Q2, outpacing the 31% drop in overall homes sales during the same time period, Redfin reported.
US National Interagency Fire Center Wildfire Update for the Week Ending September 1st
As of September 1st, 82 large wildfires have burned more than 642,615 acres in 14 states. Three new large new fires were reported on Thursday.
US Nonfarm Payroll Increases by 187,000 in August; Unemployment Climbs to 3.8%
Total nonfarm payroll employment increased by 187,000 in August. The unemployment rate increased 0.3 percentage point to 3.8%.
Canada Reports GDP, Income, and Expenditures for Q2
Statistics Canada reported that real GDP was nearly unchanged in 2023Q2, following a 0.6% increase in Q1. Final domestic demand increased by 0.3%.
Boise Cascade Finds Solution to Wood Chip Issue at Elgin Plywood Mill in Oregon—Curtailment Notice Rescinded
The Observer reported that Boise Cascade has avoided having to implement a Worker Adjustment and Retraining Notification (WARN) for all employees at its Elgin Plywood mill in Elgin, Oregon.
Alaska Governor Signs Legislation Establishing Lumber Grading Training Program for Sawmill Operators
Alaska Governor Mike Dunleavy has signed a law establishing a lumber grading training program for sawmill operators in the state.
CSX Provides Update on Hurricane Idalia’s Impact on Rail Operations
CSX has said it is in the process of “evaluating the impacts” of Hurricane Idalia on its rail network and implementing service recovery plans, according to FreightWaves.
30-Year Mortgage Rate Inches Lower in the Week Ending August 31st
The 30-year fixed-rate mortgage averaged 7.18%, down from last week when it averaged 7.23%, Freddie Mac reported.