Following the US government shutdown, trade data for August has now been released, revealing a mixed picture for timber and wood products. US imports of sawn tropical hardwood fell by 6%, while imports of hardwood plywood also declined 15% from July, though volumes remain significantly higher than last year. Conversely, imports of tropical hardwood veneer surged 27%, the highest level in two years, and hardwood mouldings rose 14%, reaching their highest level since March 2022. Hardwood flooring imports held steady, while assembled flooring panels dropped 33% compared with August 2024. Imports of wooden furniture also slipped 6%, marking the lowest monthly total in 14 months.
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Housing trends offered a modest positive signal, with existing home sales rising 1.2% in October. Inventory fell slightly but remains nearly 11% higher than a year earlier. Meanwhile, US consumer sentiment dropped to a three-year low, reflecting widespread concerns about personal finances and the economy amid lingering uncertainty. Manufacturing activity continued to contract in October, with wood products and furniture among the weakest-performing sectors.
Overall, while demand for veneers and mouldings remains robust, pressure on furniture, flooring, and sawn hardwood persists. Low consumer confidence and manufacturing contraction suggest a cautious outlook for the remainder of the year.
Source: www.globalwood.org
