UK housing starts “lowest since 1924″

The UK is expected to build just 135,000 houses this year, compared to 203,500 in 2007. This is the lowest level since 1924, when 87.000 houses were being built (excluding the war period). The outlook for 2009 is also poor, as many current projects date from before the start of the financial crisis. In turn, this suggests that chemical demand will remain at low levels into this important sector.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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