PCA updates forecast suggesting economic recovery may be pushed back
Published by Emily Thomas,
Deputy Editor
World Cement,
The Market Intelligence Group at the Portland Cement Association (PCA) recently released a webinar explaining adjustments to its winter forecast.
.PCA’s Senior Vice President and Chief Economist Ed Sullivan predicted robust economic recovery accompanying a widespread vaccination rollout, which now may be delayed a full quarter or more. This assessment reflects PCA’s knowledge of United States’ vaccine supply. If this assessment is correct, slower than expected economic activity, construction, and cement consumption may materialise in 2021 compared to the December forecast.
PCA Market Intelligence expects cement consumption will grow by nearly 1% in 2021, fuelled largely by residential construction. Non-residential construction is expected to perform weakly and soft economic activity will add to state government’s fiscal duress. Without new federal COVID-19 relief targeting state government, public cement could act as a drag on 2021 cement consumption growth.
Read the article online at: https://www.worldcement.com/the-americas/29012021/pca-updates-forecast-suggesting-economic-recovery-may-be-pushed-back/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
TITAN and Orcan Energy join forces for clean energy innovation towards net zero in cement
Together, the partners will explore the development and deployment of an innovative modular clean energy solution that will convert waste heat into clean and affordable electricity.