The Portland Cement Association (PCA) has forecast a +7.5% increase in US cement consumption this year, with a further +7.9% increase in 2016.
PCA chief economist and group vice president Edward J. Sullivan said, “The forecast indicates that the healing in the US economy has taken place. Industry projections continue to be in line with generally improving economic construction fundamentals.”
The PCA added that sustained job creation, coupled with a gradual shift in the mix of jobs toward higher skills and more significant wage pressures were key drivers. These were said to be stimulating consumer spending in the US.
Mr Sullivan also said cement and clinker imports to the US would increase to 36.6% in 2017, up 24 percentage points from the previous year. The rapid growth is projected to continue at an even higher rate in 2018.
Further details of the PCS’s latest economic forecast are available at its website, www.cement.org