While the economic recession is over and the economy is strengthening, the construction recession may not run its course for another 18 months, hindering an improvement in cement consumption for the next two years, according to the most recent economic forecast from the Portland Cement Association.
In 2011, PCA anticipates marginal growth with a 2 percent increase in consumption. Consumption is projected to increase 8.5 percent in 2012 and 18.5 percent in 2013 when all construction sectors — residential, commercial and public — will be on the upswing.
PCA’s chief economist Edward Sullivan expects two areas of nonresidential construction to grow in 2011: oil/gas well construction and farm construction.
www.cement.org
