The University of Michigan Index of Consumer Sentiment increased 0.6% to a reading of 70.5 in October.
Wood Markets News
US New Residential Single-Family Home Sales Increase 4.1% in September
New residential single-family home sales for September were at a seasonally adjusted annual rate of 738,000, 4.1% above the revised August rate.
US Mortgage Rates Move Higher for the Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.54%, up from last week when it averaged 6.44%, Freddie Mac reported.
Canadian Rail Traffic Falls in August, Negatively Impacted by Work Stoppage
Canadian railways transported 27.8 million tons of freight in August, down 10.9% year-over-year.
Norfolk Southern’s Brosnan Forest to Provide Timber for New Building at Clemson University
NS will provide timber for the construction of a Department of Forestry and Environmental Conservation building project at Clemson University.
US Weekly Initial Jobless Claims Continue to Decline in the Week Ending October 19th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 15,000 from the previous week.
Bank of Canada Lowers Interest Rate by 50 Basis Points
The Bank of Canada reduced its target for the overnight rate to 3.75%, with the Bank Rate at 4.0% and the deposit rate at 3.75%.
US Existing-Home Sales Decline 1.0% in September
Total US existing-home sales declined 1.0% in September to a seasonally adjusted annual rate of 3.84 million, NAR reported.
Rayonier Advanced Materials Says Power Has Been Restored at Its Jesup, GA, Facility
Rayonier Advanced Materials announced that power has been fully restored to its Jesup, Georgia, site and that the A Line has restarted operations.
Metsä Group Celebrates the Opening of Its New Bioproducts Mill in Kemi, Finland
The bioproduct mill will produce 1.5 million tons of softwood and birch pulp per year. The pulp will be used to manufacture numerous renewable products.