President Trump announced that he is imposing tariffs on imports from Canada, Mexico, and China, Reuters reported. The new tariffs take effect on February 4.
Wood Markets News
US Personal Income and Outlays for December
Personal income increased 0.4% in December; disposable personal income increased 0.4%; and personal consumption expenditures increased 0.7%.
Mexico’s First Predominantly Mass Timber Structure Completed
Architectural studio PPAA has unveiled the first building in Mexico with a structure constructed of predominately mass timber, according to a feature by Dezeen.
Canadian Real GDP Contracts 0.2% in November
Real GDP decreased 0.2% in November, the largest monthly contraction since December 2023, following a 0.3% increase in October.
US National Interagency Fire Center Wildfire Update as of January 31
As of Friday, there were a total of four large wildfires burning, one each in California, North Carolina, Oklahoma, and Virigina.
US Apartment Rental Asking Prices Decline for the Sixth Consecutive Month in January
The national rent index saw its sixth consecutive month-over-month decline, falling 0.2% in January, Apartment List reported.
US Real GDP Increases at an Annual Rate of 2.3% in Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 2.3% in Q4, following an increase of 3.1% in Q3.
BC Extends Old-Growth Deferral in the Fairy Creek Watershed
BC has extended temporary protections in the Fairy Creek watershed until September 30, 2026. The extension applies to the same forest lands as those deferred in June 2021.
HS Timber Group Acquires Latvian Wood Processing Company Kurekss
Austria-based HS Timber Group acquired 100% of the shares of Latvian wood processing company Kurekss SIA. The transaction also includes the pellet manufacturer Kurzemes Granulas.
US Pending Home Sales Fall 5.5% in December
The NAR Pending Homes Sales Index declined 5.5% to a reading of 74.2 in December. Year-over-year, sales were down 5.0%.