Personal income increased 0.9%, disposable personal income increased 0.9%, and personal consumption expenditures decreased 0.2%.
Wood Markets News
USDA Announces Public-Private Partnership With Sierra Pacific Industries on Wildfire Prevention
The USDA announced a $75 million agreement for the construction and maintenance of fuel breaks on national forests in California and Oregon.
Tom Schultz Named Chief of USDA Forest Service
Tom Schultz will serve as the 21st chief of the US Forest Service. He will replace Randy Moore, who recently announced his retirement.
US National Interagency Fire Center Wildfire Update as of February 28
21 new large fires were reported during the week, with the majority located in the Southern Area and the rest in the Rocky Mountain Area.
President Trump Says Tariffs on Canada, Mexico, and China Will Be Implemented on March 4
Posting on Truth Social, Trump said he plans to impose 25% tariffs on Canada and Mexico starting March 4, the AP reported.
US 30-Year Mortgage Rates Decline to Lowest Level in Over Two Months
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.85%, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 2.3% in Q4, BEA Reports in Its “Second” Estimate
Real GDP increased at an annual rate of 2.3% in Q4, following a reported real GDP increase of 3.1% in Q3.
US Mortgage Application Payments Rise in January
The MBA Purchase Applications Payment Index increased 3.1% to a reading of 165.9 in January, up from December’s reading of 160.8.
US Pending Home Sales Decline for Second Consecutive Month in January
The NAR Pending Homes Sales Index declined 4.6% month-over-month and 5.2% year-over-year to a reading of 70.6 in January.
US Weekly Initial Jobless Claims Climb in the Week Ending February 22
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 22,000 from the previous week’s revised total.