Lumber is often seen as a leading indicator for the US housing market, global economic trends, and inflation.
This steep decline hints at a significant slowdown in the US residential construction and home-improvement sectors.
This is evident in the data, as new home construction plunged in June to its lowest level in four years.
Moreover, single-family housing starts fell for the fourth month in a row in June, hitting a one-year low.
The housing boom is losing steam.
submitted by /u/XGramatik
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