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%.
Wood Markets News
Boise Cascade Finds Solution to Wood Chip Issue at Elgin Plywood Mill in Oregon—Curtailment Notice Rescinded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.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in July
Personal income (PI) increased 0.2% in July. Disposable personal income (DPI) increased less than 0.1%. Personal consumption expenditures (PCE) increased 0.8%.
Private Sector Job Cuts Increase in August
US-based employers announced 75,151 job cuts in August, a 217% increase from July, according to Challenger, Gray & Christmas, Inc.
US Weekly Jobless Claims Decrease for the Week Ending August 26th
The advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending August 26th, a decrease of 4,000 from the previous week.
Paper Excellence Extends Crofton Pulp and Paper Mill Curtailment Through September
Employees at the Paper Excellence Crofton pulp and paper mill in BC will not be returning to work at the end of August as planned, the Chemainus Valley Courier reported.
US Pending Homes Sales Increase in 2 Out of 4 Regions in July
The National Association of Realtors® Pending Homes Sales Index increased 0.9% month-over-month in July to a reading of 77.6. Year-over-year, contract signing declined 14.0%.