The cumulative growth of cement consumption in the first nine months of the year stood at 4.8%, representing a decline of almost four percent from the end of June, when it was growing at a rate of 8.6% . The drop in public works is holding back the industry recovery.
Although September reached positive values with an increase of 3.1% to 982 379 t, the slowdown in consumption is already becoming apparent with a fall in the whole of the third quarter of 0.8%. The growth in consumption of September has proved clearly insufficient to compensate for poor results experienced in July, the month in which the sector fell back 5.5%, after seven months of steady growth.
Expectations for the fourth quarter are no more encouraging. According to the Construdatos report, cement consumption associated with public works has fallen in the first half by 11% and a fall in global consumption in the third quarter is likely due to an even greater decline in public works.
Adapted from press release by Joseph Green