Personal income rose 0.4% and personal consumption expenditures advanced 0.6% in August, while the PCE price index increased 2.7% year-over-year.
Wood Markets News
Canadian GDP by Industry Posts First Increase in Four Months in July
Canadian GDP grew 0.2% in July, its first increase in four months, led by goods-producing industries. August was flat in advance estimates.
Aspen Planers Halts Production at Merritt, BC, Sawmill and Lillooet Veneer Plant
Aspen Planers halted production at its Merritt, BC, sawmill and Lillooet veneer plant, citing a lack of logs and rising costs, the Merritt Herald reported.
Quebec to Scrap Controversial Forestry Reform Bill
Quebec Premier François Legault is set to announce the government will abandon Bill 97, a forestry reform plan that drew widespread opposition, CBC News reported.
US Existing-Home Sales Slip in August
Existing-home sales fell 0.2% in August to a seasonally adjusted annual rate of 4.0 million, while prices rose for the 26th straight month, NAR reported.
Russian Tax Service Seeks Bankruptcy for Tobol Timber Over Unpaid Taxes
Russia’s tax service filed a bankruptcy petition against Tobol Timber over 14.6 million rubles in unpaid taxes, with a court hearing set for October 27.
US Mortgage Rates Inch Higher in the Week Ending September 25
The 30-year fixed-rate mortgage averaged 6.30%, up from 6.26% the previous week, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 3.8% in Q2, BEA Reports in Its “Third” Estimate
US real GDP grew at an annual rate of 3.8% in Q2, an upward revision from the “second” estimate, the BEA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending September 20
The advance figure for seasonally adjusted initial unemployment claims was 218,000, a decrease of 14,000 from the previous week.
US New Single-Family Home Sales Soar in August
New single-family home sales rose 20.5% in August to an annual rate of 800,000, with the median sales price climbing to $413,500.