The US is key to global economic recovery and improved performance in wood products industries, according to the latest timber markets report in Random Lengths International.
It suggests recent production cutbacks and inventory purging could lead to a recovery in prices as early as the second quarter of this year. The Federal Bank’s 11 cuts in interest rates during 2001 is expected to fuel housing growth.
Another key is whether European countries can avoid recession or follow the US out of the downturn. US analysts expect the changeover to the euro to make European consumers extra cautious.
