The University of Michigan Index of Consumer Sentiment declined to a reading of 66.4 in July, down from 68.2 in June. This is a month-over-month decline of 2.6%.
Wood Markets News
US Real GDP Increases at an Annual Rate of 2.8% in Q2, BEA Says in “Advance” Estimate
Real GDP increased at an annual rate of 2.8% in Q2, following an increase of 1.4% in Q1.
BC Wildfire Situation “Rapidly Evolving” as 430 Fires Burn
BC officials said the wildfire situation in the province is “rapidly evolving,” telling residents they may see more evacuation orders and alerts in the coming days, CBC News reported.
Delinquency Rates for Mortgages Backed by Commercial Property Decline Slightly in Q2
MBA released the results of its latest commercial real estate finance (CREF) Loan Performance Survey.
Milwaukee, WI, Approves 50-Story Mass Timber Project
The world’s tallest mass timber building could be built as part of a $700 million activation of the Marcus Performing Art Center garage snow pile, Wood Central reported.
US Fixed-Rate Mortgages Little Changed in the Week Ending July 25th
The 30-year fixed-rate mortgage averaged 6.78%, up from last week when it averaged 6.77%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending July 20th
The advance figure for seasonally adjusted initial unemployment claims was 235,000, a decrease of 10,000 from the previous week.
Canadian Employment Up for Fifth Consecutive Month in May
The number of Canadian employees receiving pay and benefits from their employer increased by 41,000, or 0.2%, in May. This was the fifth consecutive monthly increase.
New US Residential Single-Family Home Sales Decline in June
New residential single-family home sales were at a SAAR of 617,000, 0.6% below the revised May rate and 7.4% below the June 2023 rate.
Canada to Invest $500,000 in CLT Manufacturing in Sturgeon Falls, ON
FedNor will invest $500,000 (CAD) in Sturgeon Falls Brush and Contracting Limited (SFB) for a boiler system to dry lumber that meets the requirements for the CLT industry.