US housing starts, building permits fall in August
Construction of single-family houses declined 6% to 722,000 units in August, the lowest level recorded since October 2015 while housing starts for volatile multi-family houses fell 5.4 % to 420,000 units.
Meanwhile, US building permits were down by 0.4% to 1.14 million in August while economists had expected building permits to increase to 1.17 million units. Permits for single-family houses were up 3.7% to 737,000 units while multi-family building permits rose 7.2% to 402,000 units in August. Rising permits for the construction of single-family houses in August signals that the single-family house building may rebound next month.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Shortage pushes Europe’s ABS markets to multi-year highs
- Longest-ever rally staggers in Turkey’s PVC market
- Upstream keeps China PET afloat; prices hit 11-month high
- Import PVC uptrend loses momentum in Asia; is the 9-month rally coming to an end?
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets