The Consumer Price Index (CPI) increased 1.7% year-over-year in April, down from a 2.3% increase in March.
Wood Markets News
Swinerton and Timberlab Complete California University System’s First Mass Timber Building
The $14.5 million, 22,132-square-foot, two-story facility consolidates campus operations into a single, efficient, and forward-looking structure.
US Existing-Home Sales Slow to Lowest Level Since October 2024
Sales of existing US homes fell to a seasonally adjusted annual rate of 4,196,707 in April, the lowest level since October 2024, Redfin reported.
US Construction Materials Prices Moderate in April
Overall construction input prices were 0.1% higher year-over-year in April, the BLS and ABC reported.
US Custom Home Building Steady in Q1
There were 34,000 custom building starts in Q1, unchanged from 2024Q1, the Census Bureau and NAHB reported.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for May
The Index of Consumer Sentiment declined to a reading of 50.8 in May, down from 52.2 in April. This is a month-over-month decline of 2.7% and a 26.5% decrease year-over-year.
BNSF and Yardmasters Announce Ratification of New Five-Year Agreement
The agreement covers more than 320 yardmasters and aligns with the national bargaining pattern while also incorporating other work rule/process modernization.
US National Interagency Fire Center Wildfire Update as of May 16
There are a total of 52,346 acres burning, with only one out of eight fires partially contained.
US Housing Starts Rise in April; Permits and Completions Fall
Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,361,000, a 1.6% increase from the revised March estimate of 1,339,000.
Georgia-Pacific to Close Its Cedar Springs, GA, Containerboard Mill
GP notified employees at its Cedar Springs containerboard mill in Georgia that it plans to permanently close the facility later this year. Most positions will be eliminated by August 1.