The European Union lumber market recovery, eight years since the peak of the global financial crisis, is still “slow and fragile,” according to Fordaq.
While economic growth in construction, flooring and furniture is widespread, Fordaq said the rate of increase typically remains at or below 2 percent annually.
The slow recovery has been bad for tropical suppliers of wood products into the EU, Fordaq said. Slow growth combined with low interest rates and quantitative easing has lowered the value of the euro and other European currencies and undermined import demand.
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