Virus will have impact on wood products industry well into 2021

COVID-19's impact on the wood products industry will last well into 2021, and possibly longer.

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With millions of Americans already out of work and continued job losses exceeding that of the Great Recession of 2009, U.S. GDP is projected to decline by 8 percent in 2020.

There are projections that it could take up to three years for the U.S. economy to recover from the COVID-19 coronavirus pandemic, according to a report by McKinsey & Company.

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Source: Magnolia Reporter

 

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