The Portland Cement Association (PCA) Market Intelligence Group released their March economic update. The update focuses on the impacts of the $1.9 trillion American Rescue Plan Act of 2021. The update also discusses how latest round of fiscal stimulus will provide positive support for key macroeconomic indicators and prevent the economy from slipping into further decay.
PCA considers the most significant feature concerning the construction sector and cement consumption potential is $350 billion in aid to state and local governments. The public sector accounts for half of all cement consumption. State and local governments fund an increasing share of infrastructure projects. The budgetary duress confronting states without this Act could have resulted in a significant drag on public sector cement consumption.
The update also covers the funding levels associated with each component of the American Rescue Plan Act. Additionally, it covers how they could impact the construction industry.
About the Portland Cement Association
The Portland Cement Association (PCA) was founded in 1916. It is the premier policy, research, education, and market intelligence organization serving America’s cement manufacturers. PCA members represent over 90% of U.S. cement production capacity and have facilities in all 50 states. The association promotes safety, sustainability, and innovation in all aspects of construction, fosters continuous improvement in cement manufacturing and distribution, and generally promotes economic growth and sound infrastructure investment. For more information, you can also visit visit www.cement.org.