The Western Wood Products Association, which represents lumber manufacturers in Montana and 11 other Western states, said lumber consumption next year will be 55.7 billion board feet, a drop of 1.8 percent from this year's expected record volume of 56.7 billion board feet.
Higher interest rates are expected to slow home construction somewhat, reducing housing starts slightly to 1.69 million units in 2004. That will reduce the volume of lumber used in the segment by 3.6 percent, to 22.4 billion feet. Repair and remodeling usage also is expected to decline by 3.3 percent.
"The housing sector has been a bright spot of the U.S. economy the past few years, fueling unprecedented demand for lumber products," said Michael O'Halloran, association president. "It's clear that wood remains the top choice for building and remodeling homes for American families. While activity will be slower in 2004, we foresee another year of strong demand for Western lumber products."
The association compiles lumber industry statistics, provides business information to mills and delivers quality standards and technical support to the industry.
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