The Port of Montreal announced than an indefinite strike has begun at the Viau and Maisonneuve terminals, in accordance with the strike notice filed by CUPE Local 375.
Wood Markets News
US Private Residential Construction Spending Increases 0.2% in September
Private residential construction spending trended up 0.2% in September, the Census Bureau and NAHB reported. Year-over-year, construction spending was 4.1% higher.
US Construction Spending Increases 0.1% in September
Total construction spending during September was estimated at a seasonally adjusted annual rate of $2,148.8 billion, 0.1% above the revised August estimate.
US Nonfarm Payroll Little Changed in October; Unemployment Flat at 4.1%
Nonfarm payroll employment was essentially unchanged in October, adding only 12,000 jobs. The unemployment rate was unchanged at 4.1%.
Brazilian Exports of Wood-Based Products Increase in September
Brazilian exports of wood-based products (except pulp and paper) in September increased 20.0% in value year-over-year, ITTO reported.
US Mortgage Rates Move Higher for the Fifth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.54%, Freddie Mac reported.
US Bureau of Economic Analysis Reports Personal Income and Outlays for September
Personal income increased 0.3%; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.5%.
Mortgage Application Payments Decline Further in September
The MBA Purchase Applications Payment Index decreased 0.8% to a reading of 157.9 in September, down from 159.2 in August.
Canadian GDP Unchanged in August, but Advance September Estimate Shows Increase
Canadian real GDP was essentially unchanged in August, following a 0.1% increase in July.
Private Sector Job Cuts Ease in October
US-based employers announced 55,597 job cuts in October, a 23.7% decrease from the 72,821 cuts announced in September, CG&C reported.