PCA expects cement consumption will grow 6.9% in 2012, 5.7% in 2013 and accelerate thereafter. High political risk is attached to PCA’s baseline forecast. Tax increases of $400 billion, coupled with $200 billion in federal spending cuts, are scheduled by law to commence in January 2013. This is referred to as the “fiscal cliff”. Given the fragile state of the economy, such fiscal actions could prompt a recession. Whether a recession ensues will be determined by the actions of Congress to avert the fiscal cliff. Read More