Portland Cement Association Senior Vice President and Chief Economist Ed Sullivan presented his annual economic forecast, with specific focus on the cement industry and the increasing demand for construction materials accelerated by the Infrastructure Investment and Jobs Act (IIJA). In particular, Sullivan noted that through November 2021, the U.S. as a whole saw a 3.6% year-over-year growth in cement consumption,…
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Construction Spending Ticks Up in February
The U.S. Census Bureau reported that construction spending during February 2022 was estimated at a seasonally adjusted annual rate of $1,704.4 billion, 0.5% (±0.7%) above the revised January estimate of $1,695.5 billion. The February figure is 11.2% (±1.2%) above the February 2021 estimate of $1,533.3 billion. During the first two months of this year, construction spending amounted to $237.8 billion,…
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