The production index for sawmills and wood preservation industries fell at the start of 2024 to 91.9 in the first quarter (the index measures real output during 2017 at a level of 100). This is the second straight decline for the quarterly level according to the Federal Reserve’s recent release of G.17 data. The index fell 4.3% in the first quarter of 2024, after also falling 4.3% during the previous quarter. Compared to a year ago, production was 3.8% lower at the start of 2024. …The sawmill and wood preservation industry full utilization rates fell marginally for the second straight quarter, from 60.8% to 60.4%. This decline explains part of the production decline for the industry. Additionally, as average plant hours per week in operation fell for these firms, the decline was not due to an increase in production capacity of these firms but rather a decline in output as the plants were in operation for fewer hours.