Mexico cement industry trims 2005 outlook

Mexico cement industry trims 2005 outlook
Published: 06 July 2005

Mexico’s cement industry has trimmed its output forecast for 2005 to a rise of between 2.5-3 per cent and per cent from an initial estimate of 3.5 per cent, the country’s main industry group.
 
The revision came after a lackluster start to the year, with cement production at 11Mt in the first four months of the year, just one per cent above the year-ago level.  
 
"The start of 2005 saw a moderate performance, with production volumes more limited than in previous years," said Osmin Rendon, director of the National Cement Chamber (Canacem). 
 
Rendon said cement production was under pressure from high inventory in the construction industry and delayed building projects, but he saw activity increasing in the second half. 
 
"We think given the pace of the economy and the behavior of the construction industry in recent months, the cement sector will grow between 2.5 and 3.0 percent in 2005," he said.