OCR Text |
Show 5 lumber in 1948 will be as high or slightly higher than last year's 37 billion foot output. They pointed out that production for the first, quarter was virtually the same as for the corresponding period last year, despite the unusually severe weather which retarded production produc-tion in several regions. The seasonal upswing in construction con-struction activities is causing the lumber market to "tighten" again, after showing signs of softening in February and March. In the first quarter of 1948, a total of 164,000 new permanent family dwelling units were started, an increase of 15 percent over the first three months of 1947. Practically Prac-tically all the new units started were privately financed. Inventories continued to increase in-crease during the quarter, with combined yard and mill stocks now standing at 15 percent higher than on March 31, 1947, and 97 percent higher than at the end of the first quarter of 1946, when stocks were at a record low. The Committee emphasized that exports for the year are not expected ex-pected to be any greater than the total for 1947 with due consideration considera-tion to possible stimulating effects of the European Recovery Pro-I Pro-I gram. Lumber exports for the I first quarter of 1948 were 28 per cent less than in the first quarter 1 of 1947. HIGH PRODUCTION OF LUMBER LOOKS FAVORABLE Outlook for a continuing high production of lumber is very favorable, according to the quarterly quar-terly report of the Lumber Survey Committee to the Secretary of Commerce, just released this month. The Committee predicted in the report that total production of |