US housing starts rebound in Feb
The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,288,000 in February year-on-year with an increase of 3.0% from a revised 1,251,000 registered in January. Market expectations were calling for housing starts to stand at 1,260,000 in February.
The rise in housing starts in January was attributed to a rebound in single-family housing starts, which were up by 6.5% while multi-family housing starts continued to decline with a drop of 3.7% after a drop of 7.9% in January.
Meanwhile, building permits in February was down by 6.2% year-on-year to 1,213,000 after a revised increase of 5.3% in January and fell below the expectations of 1,260,000, the data showed.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS