The MarketWatch Blog is Transitioning to ResourceWise Forest Products
Forest2Market: July 14, 2023
Manufacturing contracted in May following five months of consecutive expansion. The index fell from 50.7 to 49.0, one point below the 50.0 breakeven line. Both Wood and Paper Products saw overall growth.
However, Paper Products exhibited some weakness, with new orders, production and backlog of orders all contracting (see table). Employment in Paper Products increased.
Wood Products showed improvement in new orders, production, employment and backlog of orders, though input prices rose for the industry.
Commodities with higher prices in May included corrugated boxes, corrugated packaging and lumber. Those listed in short supply include hardwood lumber, pine and plywood.
Non-Manufacturing or service industries expanded in May by 0.6%. Overall, Construction was the only forestry-related service industry that grew in May. Both Real Estate and Ag & Forestry contracted. New orders for construction and forestry expanded, however.
From Forest2Market's Economic Outlook. Learn more about this forecast of macroeconomic indicators.
