The Portland Cement Association (PCA) held a press conference at the 2020 World of Concrete in Las Vegas, Nevada, where PCA Senior Vice President and Chief Economist, Ed Sullivan, predicted cement consumption to stay at moderate growth levels through and into 2022.
PCA Market Intelligence expects that cement consumption will grow by 1.7% in 2020. The potential for stronger than expected construction in residential construction could add one full percentage point to this outlook.
“The economy rests on two pillars; consumer spending and labour markets.” said Sullivan. “As long as the economy continues to grow and create jobs, the economy will remain on solid ground and continue to support cyclical portions of the cement market. But the economic recovery is ageing and losing its zip. Economic growth will gradually slow along with construction activity and cement consumption growth rates.”
The ageing of the recovery makes the economy, and cement consumption, more vulnerable to potential disruptions. These threats to the overall economy include slower global economic growth, declining consumer sentiment, trade issues, and the threat of coronavirus fully hitting the US.
Read the article online at: https://www.worldcement.com/the-americas/07022020/pca-predicts-moderate-growth-of-cement-consumption-into-2022/