PCA Predicts More Hard Times - ENR | McGraw-Hill Construction

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Increasing unemployment, higher inflation and lower consumer spending will continue to be a drag on the U.S. economy through 2009, predicts the Portland Cement Association, Skokie, Ill. PCA forecasts the weak economy will translate into a 12% decline in the consumption of cement and concrete this year, followed by another 6% drop in 2009. “Real construction activity is expected to decline 9% in 2008 and another 7% in 2009,” says Edward Sullivan, PCA chief economist. “The combination of high home inventories, weak economy-wide demand conditions and poor state-budget conditions will hit residential, non-residential, and public construction,” he says. Sullivan is “alarmed” by the trend in contract awards, which are ...

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