The Portland Cement Association (PCA) is anticipating a 5% increase in cement consumption this year. Chief Economist and Group Vice President Edward Sullivan said: “the fundamentals in the United States are sound and should support sustained growth in construction activity”.
Despite concerns about global growth conditions, the US economy boasts strong and steady gains in job creation, and business and consumer confidence, while also experiencing low inflation and low interest rates. Though some sectors have been affected by the strong dollar and low oil prices, the PCA says these factors hold growth potential.
PCA’s Market Intelligence group expects construction activity will grow 4.8% this year and even stronger growth is expected for next year. Cement consumption is expected to grow 5% this year and 6.5% in 2016. Each of the three key sectors on cement consumption, residential, nonresidential and public construction is experiencing growth. Typically, when all three sectors are positive, strong volume gains materialise.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/the-americas/10092015/pca-expects-growth-in-2015-cement-consumption-521/