US: PCA maintains favourable outlook despite 1Q weakness

US: PCA maintains favourable outlook despite 1Q weakness
Published: 01 July 2014

Tagged Under: USA PCA 

According to the PCA’s ‘2014 State Construction and Cement Forecasts - All States’, first-quarter weakness among some economic indicators appears temporary and the association maintains a favourable outlook for 2014.

"Steady job growth, healthier government finances, and improving residential metrics following the winter freeze are setting the stage for continued construction expansion," the PCA said.

The report indicates that growth is expected to be broad-based with 43 states projected to see increased cement demand this year. The recently-released forecast expects the strongest rates of cement growth to occur in the south and west with increases of 7.7 and 7.6 per cent, respectively.

"Favourable demographics, pent-up demand, and improved confidence will help fuel the stronger relative growth," the PCA notes.  The midwest will grow by more than six per cent from 2013’s flat demand levels while the northeast is expected to increase 2.6 per cent, according to its expectations.

Looking ahead to 2015, construction activity is expected to "further accelerate in all regions as public construction gains momentum," the PCA added.