Citing pent-up demand, Portland Cement Association chief economist Edward Sullivan say he expects to see a 5% growth in portland cement consumption in 2016, with a further 5.7% growth of growth in 2017. This is an improvement over the growth rate from 2015, which was only 3.5%.
The energy sector gave construction starts a furious burst this year, but as that fades, the recovery will maintain its modest pace, with economists calling for further growth in 2016
After a tentative start, the construction recovery hit full stride this year, and it is expected to keep pace in 2016, according to economists surveyed by ENR.
One difference between construction economists and their Wall Street cousins is that construction economists tend to be risk adverse, especially in their forecasts.