The University of Michigan’s Index of Consumer Sentiment declined to a reading of 65.6 in June. This is a month-over-month decline of 5.1% but up 2.2% year-over-year.
Wood Markets News
Maine’s College of the Atlantic Dedicates Second Mass Timber Building
The College of the Atlantic, located in Bar Harbor, Maine, recently completed and dedicated a second mass timber structure on its campus, Mainebiz reported.
Conifex Timber Announces Two-Week Curtailment at Its BC Sawmill
Conifex Timber is curtailing its sawmill and planer for a period of two weeks starting on Monday, June 17th. The reduced schedule will impact production by 8,500 Mfbm.
Fixed-Rate Mortgages Decline Further in the Week Ending June 13th
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.99%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Trend Higher in May
Mortgage applications for new-home purchases increased 1.0% month-over-month and 13.8% year-over-year, MBA reported.
Canada’s Mass Timber Roadmap Unveiled at Parliament Hill
The comprehensive report outlines an ambitious and strategic vision for the future of mass timber in Canada and its potential to transform green construction and drive economic growth across the country.
US Producer Price Index for Final Demand Declines 0.2% Month-Over-Month in May
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.2% in May. This follows a 0.5% increase in April and a 0.1% decline in March.
US Weekly Jobless Claims Move Higher in the Week Ending June 8th
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 13,000 from the previous week.
Aspen Planer Group Announces Temporary Closure of Its Merritt, BC, Operation
Aspen Planer Group has temporarily shuttered in Merritt, BC, operations due to what AP Group Executive Vice President Bruce Rose calls “market realties,” Castanet reported.
Consumer Price Index Unchanged in May; All-Item Index Up 3.3% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, following a 0.3% increase in April and 0.4% increases in both March and February.