GENERAL ECONOMIC DEVELOPMENTS by Kit Prins Chief, Timber Section UN/ECE Trade Division Rome, 9-13 October 2000 TIMBER COMMITTEE Fifty-eighth session EUROPEAN FORESTRY COMMISSION Thirtieth session.

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Transcript GENERAL ECONOMIC DEVELOPMENTS by Kit Prins Chief, Timber Section UN/ECE Trade Division Rome, 9-13 October 2000 TIMBER COMMITTEE Fifty-eighth session EUROPEAN FORESTRY COMMISSION Thirtieth session.

GENERAL ECONOMIC
DEVELOPMENTS
by
Kit Prins
Chief, Timber Section
UN/ECE Trade Division
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Structure of presentation
•
•
•
•
Western Europe and North America
Eastern Europe and CIS
Housing
Source: UN/ECE Economic Analysis
Division
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Western Europe:
• “the short term economic prospects for
western Europe are currently better than at
any time over the past decade” (UN/ECE
July 200)
• Export-led “virtuous circle”
• Improved price competitivity due to decline
in euro
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
USA
• Expansion longest on record (since 1991),
continues: 2000 will be fourth successive
year with growth > 4%
• Looking for a “soft landing”, but strong
growth continues
• downside risks: unsustainable current
account deficit, share price bubble, oil price
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Transition economies
• Vigorous growth in 2000, due to import
demand (W.Europe), rising commodity
prices, payoff from systemic transformation
• Despite recovery, living standards still low
in most countries
• CIS fastest growing sub region (+ 7.6%)
• inflation, continued growth in
unemployment
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Estimated GDP growth (% p.a.):
1999
2000
2001
W . E u rop e 2.0
3.5
>3
E . E u rop e
1.4
4.6
U SA
4.1
4.0
3.4
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Construction
• US housing starts August 2000 at 1.53
million. Still strong, but signs of slowdown
in 2000/2001.
• W. Europe: moderate growth expected for
2000, stability in 2001
• E. Europe: Strong growth in new residential
construction in both years
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session
Euroconstruct forecasts for new
residential construction
2 000
2 001
W .E urop e
+ 2 .5
+ 0.4
E . E u rop e
+ 9.7
+ 11 .9
Rome, 9-13 October 2000
TIMBER COMMITTEE
Fifty-eighth session
EUROPEAN FORESTRY COMMISSION
Thirtieth session