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Posted AT 1:17 PM EST on 11/06/08

Forest industry forecast to continue losses

Reuters

VANCOUVER — Canada's forestry industry is expected to lose $750-million this year, and squeeze out only a slim profit in 2009, the Conference Board of Canada warned Wednesday. It will be the second consecutive money-losing year for the industry, which has been hit hard by the stronger Canadian dollar and weak U.S. housing market, which is the largest buyer of Canadian softwood lumber, used in home construction.

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