The Index of Consumer Sentiment fell to 48.2 in May, down 3.2% from April and 7.7% from a year ago.
Wood Markets News
Canadian Employment Falls by 18,000 in April; Unemployment at 6.9%
Canadian employment fell by 18,000 in April, while the unemployment rate increased to 6.9%.
US Trade Court Rules Against President Trump’s 10% Global Tariffs
The US Court of International Trade ruled against President Trump’s latest 10% global tariffs, finding the duties were not justified under Section 122 of the Trade Act of 1974.
US Construction Spending Rises in March
US construction spending rose 0.6% in March to a seasonally adjusted annual rate of $2,185.5 billion.
NAHB Multifamily Developer Confidence Holds Steady in Q1
NAHB reported that multifamily developer confidence was unchanged year-over-year in Q1, while the occupancy index declined 13 points.
US Mortgage Rates Increase in the Week Ending May 7
The 30-year fixed-rate mortgage averaged 6.37%, up from 6.30% the previous week, Freddie Mac reported.
US Job Cuts Expand in April but Remain Below Year-Ago Levels
US employers announced 83,387 job cuts in April, up 38% from March but down 21% from a year earlier, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending May 2
The advance figure for seasonally adjusted initial unemployment claims was 200,000, up 10,000 from the previous week.
SmartLam Expands CLT Use With Montana Plant
SmartLam North America is expanding the use of CLT in US construction with prefabricated panels produced in Montana, according to a feature by NBC Montana.
Canadian Sawmill Production Rises and Shipments Decline in February
Canadian sawmill production rose 1.7% in February, while shipments decreased 3.4%.