Some New Zealand Sawmills Are Temporarily Halting Production, As The Construction Sector Slows

Some New Zealand sawmills are temporarily halting production, as the construction sector slows. Forest manager Allan Laurie says demand for building timber for new houses has dropped in the face of rising interest rates so with too much timber on the market, prices are dropping and sawmills are easing off production. With log prices the lowest since 2015 harvesting forests has also eased. Alan Laurie says this is the worst he has seen in 50 years.