US: The Portland Cement Association (PCA) has published a March 2021 Economic Update. The update calls attention to the danger that insufficient aid to state and local governments presents to construction. The American Rescue Plan Act 2021 affords US$350bn to these bodies, which consume roughly half of the cement produced in the US.
Senior regional economist Brian Schmidt said that state and local government coffers are running low due to reduced tax revenues because of the Covid-19 outbreak, especially in areas reliant on oil and tourism. Schmidt concluded that the total US$1.9tn stimulus package is likely sufficiently replenish state funds to maintain cement demand. He added that this will depend on significantly reduced Covid-19 case counts by the third quarter of 2021 in line with the Institute for Health Metrics and Evaluation’s baseline forecast.
