Japan domestic demand seen hitting 41 year low

Japan domestic demand seen hitting 41 year low
Published: 27 February 2009

Japan’s demand for cement is projected to fall to its lowest level in 41 years in fiscal 2009, according to a forecast issued Thursday by the Japan Cement Association.

The trade group sees demand for the building material dropping 5 per cent on the year to 48 million tons. Private-sector demand is expected to tumble 10.2 per cent to 22 million tons as the recession saps both plant and home construction. Public-sector demand, meanwhile, is seen holding steady at 26 million tons.

Cement exports are forecast to decline 7.4 per cent to 10 million tons, hurt by slowing economic growth abroad and a strengthening yen.