The Conference Board Leading Economic Index® (LEI) declined 0.7% to a reading of 106.1 (2016=100) in June, after posting a decline of 0.6% in May. The LEI has dropped 4.2% over the six-month period from December 2022 to June.
Wood Markets News
US Weekly Jobless Claims Decline in the Week Ending July 15th
The advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending on Saturday, July 15th. This is a decrease of 9,000 from the previous week’s unrevised level of 237,000.
US Housing Starts, Permits, and Completions All Decline in June
Privately‐owned housing starts in June were at a SAAR of 1,434,000. This is 8.0% below the revised May estimate of 1,559,000. Single-family housing starts were at a rate of 935,000; this is 7.0% below the revised May figure of 1,005,000.
Dockworkers Strike at BC Ports Scheduled to Resume on July 22nd
FreightWaves reported on Tuesday that the dockworkers strike that had paralyzed shipments in and out of the Ports of Vancouver and Prince Rupert, British Columbia, for 13 days is set to resume on Saturday, July 22nd.
Canfor Board Scheduled to Decide Fate of Houston, BC, Sawmill Facility on July 27th
According to Houston Today, the 12 Canfor Corporation board members responsible for its lumber operations are scheduled to make their decision on the future of the Houston, BC, lumber facility on Thursday, July 27th.
New Brunswick Softwood Timber Royalties at Decade Low After System Overhaul
Under a new timber royalty system set up earlier this year by the New Brunswick government, forestry companies are paying lower royalties for the timber the lumber is made from than they did when lumber prices were lower.
Investment in Canadian Building Construction Declined in May
Investment in Canadian building construction declined 1.2% in May to $19.9 billion (CAD). On a constant dollar basis (2012=100), investment in building construction fell 1.5% to $11.5 billion.
Mortgage Applications Increase in the Week Ending July 14th
According to the Mortgage Bankers Association, mortgage loan application volume increased 1.1% on a seasonally adjusted basis from one week earlier. The results include an adjustment for the observance of Independence Day.
US Builder Sentiment Up for Seventh Consecutive Month in July
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes increased 1 point in July to a reading of 56.
Canada Mortgage and Housing Corp. Reports Record Monthly Increase in Housing Starts in June
The Canada Mortgage and Housing Corporation reported that a significant increase in actual housing starts in June helped reverse the declining trend in housing starts observed over the last several months.