The Portland Cement Association (PCA) Market Intelligence Group released its March economic update, focusing on the impacts of the $1.9 trillion American Rescue Plan Act of 2021. The update discusses how the latest round of fiscal stimulus will provide positive support for key macroeconomic indicators and prevent the economy from slipping into further decay.
PCA considers the most significant feature concerning the construction sector and cement consumption potential is $350 billion in aid to state and local governments. The public sector accounts for half of all cement consumption, with state and local governments funding an increasing share of infrastructure projects. The budgetary duress confronting states without this Act could have resulted in a significant drag on public sector cement consumption.
The update also covers the funding levels associated with each component of the legislation, and how they could impact the construction industry.
View the full economic update here.