US: Ed Sullivan, the Portland Cement Association’s (PCA) Senior Vice President and Chief Economist, forecasts that cement consumption will grow ‘moderately’ in 2019 alongside similar performance in the general US economy. However, he flagged gradual increases in interest rates, the aging recovery and accompanied trade issues as possible factors slowing down the cement market. Sullivan made his comments at the World of Concrete event in Las Vegas, where he revealed details from his forthcoming spring forecast.
“The US economy’s long run of growth should continue in 2019,” said Sullivan. “Since 2011 we have averaged 2 million jobs being created each year and the unemployment rate is below 4%. Despite the headlines, the impact in the near term of the rising interest rates and inflation are relatively benign. Simply put, fundamentals like these take a long time to unwind.”