The advance figure for seasonally adjusted initial unemployment claims was 217,000, an increase of 14,000 from the previous week’s revised level.
Wood Markets News
British Columbia Launches BC Timber Sales Review
BC has launched a review of BC Timber Sales (BCTS) to ensure the province’s forestry sector is continually evolving to overcome challenges and a stronger future.
US Consumer Price Index Increases 2.9% Year-Over-Year in December
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% on a seasonally adjusted basis in December, following a 0.3% increase in November.
Canadian Existing-Home Sales Decline 5.8% in December
Sales were down 5.8% compared to November but still stand 13.0% above May, just before the first rate cut by the Bank of Canada, CREA reported.
Effort to Find Buyers for Insolvent Ziegler Group Moves Forward
A letter from the insolvency administrator, reviewed by BR24, indicates that the search for investors for segments of the insolvent Ziegler Group is nearing its initial conclusions.
Mortgage Applications Climb in the Week Ending January 10
Mortgage loan application volume increased 33.3% on a seasonally adjusted basis from one week earlier, MBA reported.
University of Arkansas Receives US Forest Service Grant for Wood Products Innovation
The University of Arkansas received a $300,000 grant from the Forest Service to develop innovative wood products, Arkansas Money & Politics reported.
Unifor Members at Canadian Pacific Kansas City Railway Authorize a Strike
Unifor members of Local 101R at CPKC have voted overwhelmingly in favor of strike action, the union announced.
Canadian Sawmill Production Increases 7.6% in October
Lumber production increased 7.6% to 4,251.3 thousand cubic meters in October. However, year-over-year, production was down 5.2%.
US Residential Construction Inputs Price Growth Moderates in 2024
The price of goods used in residential construction grew 1.7% in 2024, slightly higher than the 1.0% growth in 2023, the BLS and NAHB reported.