The advance figure for seasonally adjusted initial unemployment claims was 237,000 during the week ending on Saturday, July 8th. This is a decrease of 12,000 from the previous week’s revised level of 249,000. The 4-week moving average was 246,750.
Wood Markets News
Canfor Pulp to Curtail Production at Northwood Pulp Mill Due to Labor Dispute at BC Ports
CKPG Today reported that Canfor Pulp Products is curtailing its pulp mill in Prince George effective July 13th due to the limited storage space for pulp products that cannot be transported overseas as a result of the labor dispute at BC ports.
Ledcor Group Announces Permanent Closure of Its Chilliwack, BC, Cant Mill and Forestry Operations
The Nanamio News Bulletin reported that the Ledcor Group has announced its intention to permanently close its Chilliwack, BC, cant mill at the end of August and its Forestry Group operations shortly thereafter.
BC Provincial Government Announces Additional Investments in Mass Timber Demonstration Projects
BC announced that it is providing more than $4 million (CAD) for 12 new mass timber demonstration and research projects, building on BC’s global leadership in this area.
UK’s Vistry Announces Reopening of Timber Frame Factory
Vistry, a top UK housebuilder and leader in partnership housing, announced it has reopened what is described as a “mega facility” in the East Midlands region, according to a report by Inside Housing.
Mortgage Applications Resume Upward Trek in the Week Ending July 7th
According to the Mortgage Bankers Association, mortgage loan application volume increased 0.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 19.0%.
Consumer Price Index Increases 0.2% in June; All-Item Index Up 3.0% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.2% in June on a seasonally adjusted basis. Over the past 12 months, the all-item index increased 3.0% before seasonal adjustment.
For the First Time Since the End of May, No Quebec Wildfires Considered Out-of-Control
The Canadian Press reported that for the first time since the end of May, Quebec’s provincial forest fire prevention agency (SOPFEU) says there are no out-of-control wildfires burning in the province.
Mortgage Credit Availability Increased in June
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) report, mortgage credit availability increased by 0.1% in June.
US Wood Pellet Exports Increase in May
The US exported 820,057.5 metric tons of wood pellets in May, up from 720,209.2 metric tons of wood pellets in April. Compared to a year ago—740,605.0 metric tons—shipments were also higher.