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Towards greater transparency in the tropical timber markets

The ITTO Tropical Timber Market (TTM) Report, an output of the ITTO Market Information Service (MIS), is published in English every two weeks with the aim of improving transparency in the international tropical timber market. The TTM provides market trends and trade news from around the world, as well as indicative prices for over 400 tropical timber and added-value products.



1-15 October 2011

Top story

Caution urged as India not immune to global economic shocks

Analysts are urging caution in painting an overly optimistic picture of India’s continued role as a major importer of logs.
India is not immune to the effect of the euro-zone debt crisis and a possible second recession in the US. The recent depreciation of the Rupee could also impact the capacity of Indian manufacturers to continue importing at current levels.
The amount of excise duty, a tax collected by the Indian government on manufactured goods, dropped 8% for the first time in 16 months in September 2011 signalling a possible slowdown in the Indian manufacturing sector.. 

Also in this issue

  • West African business survey suggests confidence still high
  • Indian Purchasing Managers Index for the manufacturing sector falls 
  • Euro-zone and US financial crises bite into Indonesian furniture exports
  • Building of new homes and offices boosts Peru’s domestic wooden furniture market
  • Five consecutive monthly increases in Japan’s housing starts
  • Little prospect for any significant upturn in EU timber demand
  • Furniture manufacturing expected to expand in the US as China’s labour cost advantage erodes 

Data snapshot

UK Consumer Confidence Index languishing just above all time lows

Robert Gardner, Chief Economist at Nationwide, when commenting on consumer confidence in the UK wrote that “there was a raft of bad news in August, so in some respects, it is encouraging that we observed only a marginal decline in sentiment during the month.

Further signs that the UK economy is struggling to gain momentum, disorder in a number of English cities and renewed turbulence in global financial markets would all have been expected to weigh down heavily on confidence during the month.

The relative stability is probably a reflection of the already subdued level of confidence, rather than indicating resilience in the household sector. Indeed, the bounce in sentiment observed after the May holiday has been steadily eroded.

Three successive monthly falls have left the Consumer Confidence Index languishing just seven points above the all time lows recorded in February 2011, and 30 percentage points below its long-run average reading of 78.”

For more see

UK Consumer Confidence Index

Source:  modified from Nationwide UK


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