LAS VEGAS—Citing pent-up construction demand and positive economic indicators, Portland Cement Association chief economist Edward Sullivan said on the first day of this year's World of Concrete show that he expects to see a 5% growth in portland cement consumption in 2016, with a further 5.7% growth in 2017. This is an improvement over the growth rate from 2015, which was only 3.5%.
“These are the latest numbers from our November forecast, which didn’t include the effects of the FAST Act,” said Sullivan, citing the importance of the recent multiyear, federal transportation bill to the public construction sector. “That spending will help overcome the effects of inflation, and also offset the drag due to lower oil prices. The FAST Act should be praised.”