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US housing market decline may start to slow

US new home sales began falling in 2005, when they peaked at 1.4 million a month. Last month, as the above chart from the ACC weekly report shows, they were down to just 337,000. Similarly, new home inventory has risen to 12 months. Each new home uses...

Published 29 Mar 2009 8:18 by Chemicals & The Economy

Filed under: Economic growth, Financial Events, housing, Leverage, ACC
US home sales keep falling

Kevin Swift at the American Chemistry Council issued a new 2009 Outlook this week. His analysis suggests that we will see a V-shaped recession, as the "massive stimulus being injected into the US and other world economies will foster demand and a...

Published 1 Mar 2009 7:24 by Chemicals & The Economy

Filed under: Economic growth, Case-Shiller index, housing, Leverage, ACC, chemical sales
Global chemical growth slows

The latest American Chemistry Council report on global production growth makes sombre reading for anyone outside the Middle East: • Global growth (dark green) is now only 1.4%, versus 4.1% in January • N American growth (dark blue) declined by 2.4% in...

Published 28 Sep 2008 6:48 by Chemicals & The Economy

Filed under: Europe, Economic growth, Oil markets, Middle East, Asia, ACC, N America, CEE, Latin America
US housing starts 'at 17 year low'

US housing starts, so important to the chemical industry, are now firmly anchored in recession territory. The chart, from the ACC's weekly report, shows they are at levels last seen in 1990-1. And with the current disruption in financial markets,...

Published 22 Sep 2008 13:58 by Chemicals & The Economy

Filed under: Economic growth, ACC, US housing
The end of 'stretch targets'

There is little doubt that chemical growth is weakening. The above chart, taken from Kevin Swift's excellent weekly report for the American Chemistry Council, indicates that a serious downturn is underway. Since January, world production growth (the...

Published 27 Jul 2008 15:54 by Chemicals & The Economy

Filed under: China, Europe, Economic growth, Oil markets, Financial Events, M & A, Middle East, Asia, ACC, global downturn, Kevin Swift, NAFTA
$216.9bn and still rising

After a while, large numbers lose their power to shock. So Bloomberg and the FT have performed a service this week by reminding us of the scale of losses in the financial sector. They calculate that so far, US and European banks have had to raise $216...

Published 4 May 2008 14:11 by Chemicals & The Economy

Filed under: Economic growth, Case-Shiller index, Financial Events, Leverage, US Federal Reserve, ACC, Toyota, Chrysler, GM, Ford
US housing slows again

Financial markets have been buoyant in recent weeks, as I noted recently . But this is at odds with actual newsflow. The chart above, from Kevin Swift’s excellent weekly report for the American Chemistry Council, highlights once again the dire state of...

Published 27 Apr 2008 19:57 by Chemicals & The Economy

Filed under: Economic growth, subprime mortgage crisis, ACC, US housing

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US housing market decline may start to slow

US home sales keep falling

Global chemical growth slows

US housing starts 'at 17 year low'

The end of 'stretch targets'

$216.9bn and still rising

US housing slows again