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.