US: Cement consumption in the US will rise by 3.4% in 2016, according to a report from the Portland Cement Association (PCA). The forecast has been revised down from the PCA’s previous forecast of 5%. The PCA expects cement consumption in 2017 to grow by 4.3%.
“The new forecast reflects the implementation of the new multi-year highway bill, Fixing America’s Surface Transportation (FAST) Act,” said Edward Sullivan, PCA chief economist and group vice-president. “However, our forecast still reflects a deterioration in global growth conditions, an even weaker projection for oil prices, and a tightening of US monetary policy.”