US: The PCA has confirmed that the US cement industry is on target to see annual cement consumption grow by 4 per cent as projected earlier this year. According to the PCA, it is expected that cement consumption through the end of the year will continue at a steady pace, with additional demand coming from several areas, including moderate residential spending and, to a lesser extent, growth in non-residential and public construction activity. The PCA also said that favourable monetary policy from the Federal Reserve will support construction activity for the next two years. ¨A key factor for continued growth for the cement industry is steady growth in construction spending, also projected to be up 4 per cent,¨ said PCA Chief Economist and Senior Vice President Edward J Sullivan. ¨This is very much in line with the overall US economy´s slow-albeit-positive growth path.¨
Sullivan noted that PCA has fore-casted growth despite conflicting economic indicators from elsewhere. ¨Despite some ups and downs in the economy, the underlying economic fundamentals are solid,¨ he said.