Mexico’s cement output will grow about 3.5 percent in 2005, slightly down from the 4.0 per cent expected this year, the country’s main industry group said on Friday. "The cement industry is closely linked to the performance of the economy. We expect to grow around 3.5 percent, in line with growth in Mexican gross domestic product for 2005," Osmin Rendon, director of the National Cement Chamber (Canacem).
Cement production totaled 22.2Mt in January to August of 2004, up 3.2 percent from the same period last year, and growth is expected to accelerate in the final months of the year. Economists polled by the central bank expect the economy to grow four per cent this year, spurred on by strong exports, and around 3.7 per cent next year.
"The economy is recovering and this enables a gradual recovery in employment. That boosts house-building, which is the most important sector in the industry," Rendon said.