- Like a lot of parts of the global economy, housing/wood/material each saw a drop in both supply and demand given last year’s recession.
- Once beyond the commodity-induced price effects, it becomes clear the economy is settling back into the same disinflationary circumstances or even more than when this all began.
- The entire global industrial sector (including China), which contains, among other things, commodity production, is failing to robustly come back from a very deep bottom.
For further details see:
Lumbering Economy And The Curves Behind Transitory Inflation