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PCA's Chief Economist Is Optimistic About Construction Industry 02-07-18 | Economic News

PCA's Chief Economist Is Optimistic About Construction Industry
Remarks Give Insight to What Economic Forecast

For 2018, the PCA is aiming for a more optimistic economic outlook after their Fall 2017 forecast was adjusted downward following weather conditions and economic factors.

Ed Sullivan, Portland Cement Association's (PCA) senior vice president and chief economist was optimistic at the World of Concrete event in Las Vegas.

Sullivan believes the economic momentum, spurred by tax reform and federal infrastructure programs, will be instrumental in the demand for construction over the next few years.

He offered a glimpse into their forthcoming Spring 2018 economic forecast due for release in March. The PCA will release forecasts four times in 2018.

Noting the strain to find skilled construction workers, weather conditions and other economic factors caused the PCA to revise their Fall 2017 forecast down.

However, for 2018 the forecast is believed to be more optimistic.

"Strengthening economic conditions, with the addition of fiscal stimulus, and in the context of already low unemployment could awaken inflationary pressures," Sullivan said at the World of Concrete conference in Las Vegas.

He remarked the strong economy is likely in spite of the skilled worker shortage. Even with their Fall 2017 forecast revised down, the PCA says their assessments on the economy, markets and cement consumption remain on target.

The PCA's complete Spring 2018 report will be available March 6, 2018.