Economy, Construction at Crossroads; PCA Chief Economist Comments on Oct. Economic Reports, Impact on Construction, Cement Industries

11/15/2002

From: Ryan Puckett or Bruce McIntosh, 847-972-9136, both of the Portland Cement Association, e-mail: rpuckett@cement.org

SKOKIE, Ill., Nov. 15 -- Ed Sullivan, chief economist for the Portland Cement Association (PCA), has analyzed key government economic reports released Nov. 15 on industrial production, business inventories and the Consumer Sentiment Index for PCA members.

"Economic growth is nearing a crossroads between sustained but slow growth and the possibility of retrenchment leading to a double-dip recession," says Sullivan.

Highlights from the analysis:

-- Industrial production figures under performed PCA expectations -- Business inventories exceeded PCA expectations -- Sluggish manufacturing forecasts indicate hesitancy for industrial construction and job creation -- Residential construction to remain healthy.

A complete copy of Sullivan's two-page commentary on breaking economic data is available at: http://www.cement.org/breakingeconomicdata.pdf. Ed Sullivan is available at 847-972-9006 or email at esullivan@cement.org.

Based in Skokie, Ill., the Portland Cement Association represents cement companies in the U.S. and Canada. It conducts market development, engineering, research, education, and public affairs programs.