The University of Michiga Index of Consumer Sentiment increased to a reading of 74.0 in December, up from 71.8 in November. This is a month-over-month increase of 3.1% and up 6.2% year-over-year.
Wood Markets News
Canadian Employment and Unemployment Both Increase in November
Canadian employment increased 0.2%, or 51,000 jobs, in November. The employment rate held steady at 60.6%.
Campbell Global Acquires 40,800 Acres of Timberland in the Pacific Northwest
Campbell Global acquired of 40,800 productive acres of high-quality, commercial timberland located on the Olympic Peninsula in northwest Washington state.
Canadian Lumber Production Increases 4.7% in September
Canadian lumber production increased 4.7% to 3,951.2 thousand cubic meters in September. Year-over-year, lumber production was down 5.9%.
Fannie Mae Releases Its Q4 Home Price Expectations Survey
According to the survey, a panel of over 100 housing experts forecast home price growth to decelerate to 3.8% in 2025 and 3.6% in 2026.
Private Sector Job Cuts Increase 3.8% in November
US-based employers announced 57,727 job cuts in November, a 3.8% increase from the 55,597 cuts announced in October, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending November 30th
The advance figure for seasonally adjusted initial unemployment claims was 224,00, an increase of 9,000 from the previous week’s revised level.
US Mortgage Rates Fall to Lowest Level in Over a Month
The 30-year fixed-rate mortgage averaged 6.69%, down from last week when it averaged 6.81%, Freddie Mac reported.
US Forest Service Announces New Policy for Monitoring National Forests and Grasslands
The US Forest Service announced a new policy for monitoring national forests and grasslands, an important step in implementing the agency’s 2012 planning rule.
Irving Paper to Temporarily Reduce Operations at Its Saint John, NB, Facility
Irving Paper will be shutting down 50% of its operations in Saint John, New Brunswick, beginning December 2nd and lasting for at least a week.