Construction spending during February was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7% above the revised January estimate.
Wood Markets News
US Residential Construction Job Openings Rise in February, but Remain Well Below Year-Ago Levels
The number of open construction sector jobs increased from a revised 242,000 in January to 264,000 in February, the BLS and NAHB reported.
US Nonresidential Construction Spending Reaches Record High in February
Nonresidential construction spending increased 0.3% in February, ABC and the Census Bureau reported. On a seasonally adjusted annual basis, spending totaled $1.255 trillion.
US Job Openings and Labor Turnover Summary for February
The number of job openings was little changed at 7.6 million. Year-over-year, the number of job openings was down 877,000.
Brazilian Exports of Wood-Based Products Decline Year-Over-Year in February
Brazilian exports of wood-based products (except pulp and paper) in February decreased 8.5% in value year-over-year, the ITTO reported.
Sumitomo Forestry America Acquires Teal Jones Louisiana Holdings Sawmill
Sumitomo Forestry will acquire 100% of the shares of Teal Jones Louisiana Holdings through its wholly owned subsidiary Sumitomo Forestry America.
Canadian Rail Cargo Volume Increases 8% Year-Over-Year in January
The volume of cargo carried by Canadian railways reached 32.1 million tons, up 8.0% from January 2024.
Strike at UPM Plywood Mills in Finland Continues as Union Rejects Latest Offer
UPM Plywood and the Industrial Union have failed to reach an agreement on a new employer-specific collective agreement, UPM announced.
70% of US Households Unable to Afford a $400,000 Home, NAHB Affordability Pyramid Shows
The pyramid reveals that 70%, or 94 million households, cannot afford a $400,000 home, according to NAHB analysis.
29-Story Mass Timber High-Rise Coming to St. Louis, MO
A 29-story mass timber high-rise is coming to St. Louis, Missouri, according to a feature by CityScene STL.