Despite recent soft data, the U.S. house building market will recover to its former glory at a slow and steady pace, according to the chief financial officer of the world's largest brick maker.
The U.S. Commerce Department reported last week that housing starts in the country had fallen to their lowest level in a year in February after cold weather hit most of the northwest of the country. Willy Van Riet, the CFO Wienerberger told CNBC Thursday that he was confident of a rebound despite the setback.
"If you look at the U.S. they are now at 1 million housing starts for the whole of the U.S. market. We have been at 2 million and we need to satisfy the demand of about 1.5 million so there's still a huge potential to go for," he said.