Although a slowdown of the U.S. economy is expected, experts predict cement consumption this year to reach 129.6 million tons, an increase of 2.3% compared to 2005 levels, extending a three-year period of continual growth. Additional growth is forecasted for 2007, with a 1.2% consumption increase.
The Portland Cement Association’s (PCA) spring forecast had projected a 3.5% growth rate in 2006.
“Higher interest rates, oil prices and inflation will slow consumer spending,” Edward Sullivan, PCA chief economist, said.