Real GDP decreased 0.2% in November, the largest monthly contraction since December 2023, following a 0.3% increase in October.
Wood Markets News
US National Interagency Fire Center Wildfire Update as of January 31
As of Friday, there were a total of four large wildfires burning, one each in California, North Carolina, Oklahoma, and Virigina.
US Apartment Rental Asking Prices Decline for the Sixth Consecutive Month in January
The national rent index saw its sixth consecutive month-over-month decline, falling 0.2% in January, Apartment List reported.
US Real GDP Increases at an Annual Rate of 2.3% in Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 2.3% in Q4, following an increase of 3.1% in Q3.
BC Extends Old-Growth Deferral in the Fairy Creek Watershed
BC has extended temporary protections in the Fairy Creek watershed until September 30, 2026. The extension applies to the same forest lands as those deferred in June 2021.
HS Timber Group Acquires Latvian Wood Processing Company Kurekss
Austria-based HS Timber Group acquired 100% of the shares of Latvian wood processing company Kurekss SIA. The transaction also includes the pellet manufacturer Kurzemes Granulas.
US Pending Home Sales Fall 5.5% in December
The NAR Pending Homes Sales Index declined 5.5% to a reading of 74.2 in December. Year-over-year, sales were down 5.0%.
US Mortgage Application Payments Edge Lower in December
The national median payment requested by applicants decreased from $2,133 in November to $2,127 in December, MBA reported.
US Mortgage Rates Inch Lower in the Week Ending January 30
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.96%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending January 25
The advance figure for seasonally adjusted initial unemployment claims was 207,000, a decline of 16,000 from the previous week’s unrevised level.