Total construction spending during July was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3% below the revised June estimate of $2,169.0 billion.
Wood Markets News
TotalEnergies Invests $100 Million in Forestry Operations to Preserve Carbon Sinks
TotalEnergies has signed a $100 million agreement with Anew Climate, a North American leader in climate solutions, and Aurora Sustainable Lands, a carbon-stewardship company and forest landowner in the US.
BNSF Railway and Norfolk Southern Reach 5-Year Agreements with Additional Unions
BNSF Railroad and Norfolk Southern have reached tentative five-year contract agreements with additional unions four months before the opening round of national collective bargaining, FreightWaves reported.
Vietnam Adopts Ambitious Plan to Increase the Value of Wood and Wood Product Exports
Vietnam aims to increase the value of wood and wood product exports to $20 billion by 2025 and $25 billion by 2030 under a recently adopted national forestry plan, Vietnam Today reported.
World’s Longest Timber-Towered Suspension Bridge in Michigan
Wood Central profiled “Michigan’s Second Bridge,” the world’s longest timber-towered suspension bridge. The bridge was designed and constructed by Experimental Resources (Eri).
US National Interagency Fire Center Wildfire Update as of September 3rd
As of Tuesday, September 3rd, 51 large active wildfires are being managed with full suppression strategies nationwide. Current fires have burned 1,777,297 acres.
Mortgage Application Payments Trend Lower in July
MBA’s national Purchase Applications Payment Index decreased 1.9% to a reading of 167.7 in July.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in July
The value of Brazilian exports of wood-based products (except pulp and paper) increased 9.9% year-over-year in July, the ITTO reported.
Züblin Developing Timber Modular System at the Stuttgart University of Applied Sciences
Züblin’s timber modular construction system “Eco-Box” is under development in collaboration with the University of Applied Sciences in Stuttgart, Germany, Construction Briefing reported.
PotlatchDeltic Completes Waldo, AR, Sawmill Modernization Project
PotlatchDeltic announced that it has completed the planned downtime at its Waldo, Arkansas, sawmill to tie-in equipment for the modernization and expansion project.