The French construction and renovation sectors remain in “crisis”, according to a new report highlighted by the International Tropical Timber Organisation (ITTO) in its latest newsletter.

ITTO cites the latest edition of the Memento publication, providing French timber industry data and published by the Forest, Cellulose, Wood Construction and Furniture Technical Institute (FCBA)

Memento says the data shows a challenging situation, with French construction and renovation in “crisis”, evidenced by a 14% drop in housing starts during 2024 compared to 2023.

The report says national and international uncertainty is straining France’s economy, dampening investment levels. Signs of falling interest rates are not yet positively impacting the economy.

“The first signs of falling interest rates are not yet sufficient to translate into an economic recovery,” the report says. “Standing timber prices have been trending downward since 2022 but are still higher than in previous years.

But FCBA says longer-term prospects are more positive, citing the low-carbon agenda.

To view the full report (in French), visit HERE.

Source: ITTO