Attitude at World of Concrete: Economy in 'Transition' Mode
Analysts are calling 2004 a "transition year" for the U.S. economy. Concrete construction and equipment manufacturing are expected to rebound after several stagnant years. By mid-year, cement gurus are forecasting a moderate rise in interest rates, which would begin to cool down the record-high home-building boom and spur more nonresidential starts.
"Softer second-half residential construction activity is expected to be offset by marginally higher nonresidential and public-spending activity," said Edward J. Sullivan, the Portland Cement Associations chief economist, who addressed the press at the World of Concrete, held Feb. 17-20 in Orlando.