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MARKET WATCH

Forestry-Related Industry Performance—June 2013

Posted by Forest2Market on July 29, 2013
Manufacturing, as measured by the Institute for Supply Management’s PMI, expanded in June after falling into contraction during May. The index rose from 49.0% to 50.9%, nearly one percentage point above the 50.0% breakeven line. Both Wood and Paper Products saw overall growth.

Paper Products’ expansion exhibited widespread support among the sub-indices. Wood Products, on the other hand, showed areas of weakness, including new orders and order backlogs (Table 3).

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"Indications are that customers have acceptable inventory levels, and as a result, are backing down on new orders and reassessing market conditions," wrote one Wood Products respondent. A Paper Products respondent was more upbeat, observing that "June sales appear to have rebounded from what was a lackluster May."

The pace of growth in the service sector backed off slightly in June. The non-manufacturing index registered 52.2%, 1.5 percentage points lower than May's 53.7%. All three industries we track reported growth, although some sub-indices weakened relative to May.

Commodities used by either the manufacturing or non-manufacturing sectors and that were up in price included caustic soda, plywood, lumber, and corrugated boxes and packaging. Commodities down in price included lumber (specifically, pine, spruce & treated) and natural gas. Diesel and gasoline were variously reported as both up and down in price. No relevant commodities were in short supply.

Learn more about Forest2Market's Economic Outlook, a 24-month forecast of the macro-economic indicators that drive supply and demand in forestry-related industries.

Topics: forest industry performance

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