The Portland Cement Association (PCA) predicted moderate growth for the overall US economy and cement consumption for 2019 at this year’s World of Concrete, in Las Vegas.
Speaking a press conference, Ed Sullivan, PCA’s executive vice president and chief economist, said the US economy’s long run of growth should continue in 2019.
“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”, he added.
Sullivan emphasised that projected cement consumption will slow modestly from 2018 in 2019.
“The gradual increases in interest rates, the aging recovery, and accompanied trade issues may contribute to the slowdown in the cement market,” he concluded.