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PCA Predicts Recovery, State Budgets Remain in Question

Published Tuesday, July 01, 2003

Clearing economic vision points to a change in construction activity, with nonresidential construction poised to lead the way, according to the Spring 2003 Forecast from the Portland Cement Association. “Robust economic activity is expected to characterize 2004,” says PCA Chief Economist Edward J. Sullivan. “The economic momentum materializing in the second half of 2003 will be bolstered by tax cuts, stronger job creation and a full-fledged recovery in investment spending.” PCA expects residential construction activity to remain at historically strong levels despite predicted higher interest rates. In addition, sustained, stronger economic growth will generate a revival in nonresidential ...

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