US new home construction rises 2.6% in April from March
16 May 2012 15:29 [Source: ICIS news] HOUSTON (ICIS)--?xml:namespace>?xml:namespace>Privately owned US housing starts in April were at a seasonally adjusted annual rate of 717,000, up 2.6% from March, the US Department of Commerce said on Wednesday.
March’s rate was 699,000, revised upward from an initially reported estimate of 654,000.
On a year-on-year basis, privately owned US housing starts were 29.9% above a revised April 2011 rate of 552,000, the department said.
Single-family housing starts in April were at a rate of 492,000, up 2.3% above the revised March figure of 481,000. Single-family home building is considered to be the core of the housing construction sector.
The housing market is a key downstream consumer sector for the chemical industry, driving demand for a wide variety of chemicals, resins and derivative products such as plastic pipe, insulation, paints and coatings, adhesives, roofing materials and synthetic fibres, among many others.
The American Chemistry Council (ACC) estimates that each new home built represents some $15,000 (€11,850) worth of chemicals and derivatives used in the structure or in the production of component materials.
US Housing Starts
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Apr ’11 to Apr ’12
US Housing Starts
* Seasonally adjusted & annualisedBy: Stefan Baumgarten+1 713 525 2653
Paul Hodges studies key influences shaping the chemicals industry in Chemical and the Economy
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