Forestry will play a key role within the future green economy. The United States and Canada averaged lower declines over this period with GDP declining by 3.0%/quarter and 2.2%/quarter, respectively. The Russian Federation averaged the highest decline in GDP over this period with an average of -6.5%/quarter. The effect on the global economic meltdown and subsequent recession has had a significant impact on the forest sector in the UNECE. For example, in the United States, with the largest demand for wood products in the UNECE, multifamily unit starts fell 13.3% in July while single family homes was at a stagnant low of annual rate of 490,000 starts, down from a high of over 2.2 million starts in 2005.