Nationwide nonresidential construction spending decreased 0.2%, the Census Bureau and ABC reported.
Wood Markets News
US Open Construction Sector Jobs Drop in July
The number of open construction sector jobs shifted notably lower from 299,000 in June to 248,000 in July, the BLS and NAHB reported.
Mortgage Applications Trend Higher in the Week Ending August 30th
Mortgage loan application volume increased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.
Scottish Exports of Timber to Ireland Suspended Due to Discovery of Bark Beetle
Scottland and Ireland have agreed to a precautionary pause preventing all conifer timber with bark on from being transported to Ireland from Scotland’s west coast Pest Free Area.
US Job Openings and Labor Turnover Summary for July
As of the last business day in July, the number of job openings was 7.7 million. Year-over-year, the measure was down 1.1 million. The job opening rate was little changed at 4.6%.
US Construction Spending Declines 0.3% in July
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.
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).