Statistics Canada reported on Frida that real GDP edged up 0.1% in August, following a similar 0.1% increase in July. The 0.3% increase in services-producing industries was partially offset by a 0.3% decline in goods-producing industries.
Wood Markets News
Skeena Sawmills Announces Terrace, BC, Facility Will Only Operate 50% Of the Time
Skeena Sawmills in Terrace, BC, informed employees that the company is facing the highest fiber costs in recent memory. According to Lionel Chabot, the plant manager, the mill will be operating 50% of the time going forward from now and into the New Year.
Personal Consumption Expenditures, Personal Income, and Disposable Income All Rise in September
The US Bureau of Economic Analysis reported on Friday that according to its estimates, personal income increased 0.4% in September; disposable personal income increased 0.4%; and personal consumption expenditures (PCE) increased 0.6%.
State Court in Jefferson County, Washington, Rules Against DNR Timber Sales
On Wednesday, a Jefferson County Superior Court judge ruled against the Washington State Department of Natural Resources, in a case the plaintiffs say will have wide implications on how the agency manages state forests.
Number of Mass-Timber Buildings in BC Almost as Great as the Entire US
A BC government initiative has provided the impetus for the construction of 307 environmentally friendly, laminated wooden buildings in just BC alone. The total number of mass-timber wood buildings across the entire US is currently 356.
Pending Homes Sales Decline Month-Over-Month and Year-Over-Year in September
The National Association of Realtors® reported on Friday that their Pending Homes Sales Index declined 10.2% in September from August to a reading of 79.5 (2001=100). The PHSI has now declined ten times in the past eleven months.
Vietnam’s Wood Products Industry Feeling the Pressure From War in Ukraine and Other Logging Issues
Vietnam is one of the world’s largest wood and furniture exporters. However, according to customs data, between August and September alone, Vietnam’s wood products exports sank 21%, with more than a 14.6% drop in total shipments.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for October
The University of Michigan today released the final results of its Consumer Sentiment Index for October. The Index of Consumer Sentiment increased to a reading of 59.9 in October, up from 58.6 in September. This is a month-over-month increase of 2.2%.
Second US Class 1 Freight Railroad Union Rejects Tentative Labor Agreement
The Brotherhood of Railroad Signalmen became the second US Class 1 freight railroad union to reject the tentative agreement, which representatives of the unions and the freight railroads had recently negotiated. Nearly 61% of the approximately 6,000 members voted against the agreement.
Oregon Board of Forestry Approves Changes to the Forest Practice Act
At a special board meeting on Wednesday, the Oregon Board of Forestry approved more than 100 changes to the Forest Practice Act. The approved changes will impact timber harvesting activities on more than 10 million acres of private and non-federal forests in the state.