Portland Cement Association’s (PCA) Chief Economist and Senior Vice President of Market Intelligence Ed Sullivan predicts a stronger U.S. economy during the first half of this year than was previously expected but believes there will likely be a slowdown in economic growth starting this summer.
Read MoreThe Dodge Construction Network held its 2023 Dodge Construction Outlook, a mainstay in the construction industry for more than 80 years. The forecast predicts that total U.S. construction starts will be unchanged in 2023 at $1.08 trillion. When adjusted for inflation total construction starts will dip 3%. “As the clouds of uncertainty mount on the fate of the economy in…
Read MoreTotal construction starts rose 9% in February to a seasonally adjusted annual rate of $1.013 trillion, according to Dodge Construction Network. Year-to-date, total construction was 14% higher in the first two months of 2022 than in the same period of 2021. Nonresidential building starts jumped 39%, nonbuilding starts rose 4% and residential starts gained 5%. For the 12 months ending…
Read MorePortland 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,…
Read MoreThe 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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