US housing starts, permits miss estimates in March
Construction starts on single-family houses dropped 9.2% to an annualized pace of 764,000 units in March while housing starts for volatile multi-family units fell 7.9% to an annualized pace of 325,000 units, the slowest pace since February 2015. Housing starts slumped 25.4% in the Midwest; however, starts surged 61.3% in the Northeast.
Meanwhile, building permits, an indicator of future construction, declined 7.7% to an annualized pace of 1.09 million units in March from 1.18 million units in the previous month.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov
- PVC downturn enters 7th month, prices still far from pre-pandemic levels in Europe
- Aggressive US PE offers make a scene across global markets in Q4 after a hiatus of 2 years
- SEA cracker outages and lack of deep-sea cargoes underpin olefin prices in Asia
- US origin hammers import PVC prices into Asia
- China PE markets stay bearish with import prices below new thresholds