Sentiment among US housebuilders is at a 22-year low based on the most recent survey by the National Association of Home Builders. Daily Telegraph

The NAHB said its housing market index was unchanged at a level of 19 in December, holding at a record low since it began in January 1985 for the third consecutive month. The NAHB index runs from 0 to 100, with readings below 50 indicating negative sentiment.