There are wide-ranging and severe effects upon the timber value chain. There are however significant differences among European countries.
The construction sector, a fundamental market for the timber industry, has taken a hit in countries such as Spain, Italy, the United Kingdom and France, and also in businesses located elsewhere which are particularly exposed to this group of countries.
In other parts of Europe, such as in Scandinavia, Germany, and the Netherlands, the local construction sector has been doing better. A crunch period might be on the cards also for these countries in Q3. Sectors connected to logistics, such as pallets, are performing comparatively better than sectors connected to manufacturing, such as furniture industries.
A joint conference call of representatives from eleven European countries