SKOKIE, Ill. – The June U.S. edition of The Monitor, a monthly analysis of trends in the construction and cement industries published by the Portland Cement Association, reports a small decline in construction activity during April, including a slight easing in residential construction.

PCA is looking to improvements in consumer and investment spending to translate into an increasingly stronger GDP and labor market. This evidence must transpire over the next three months for PCA’s scenario to play out. Also, absent a relatively quick recovery in labor markets, a raise in interest rates this year by the Federal Reserve, as assumed in the PCA baseline, is unlikely.

Key statistics from the June U.S. edition of The Monitor:

• Portland cement consumption rose 3.6 percent in March, year-to-date consumption is down 4.0 percent.
• Blended cement consumption increased 9.2 percent in March and is 8.1 percent above year-ago levels.
• Masonry cement consumption increased by 7.8 percent in February against last year’s level; year-to-date consumption is off 2.6 percent.
• Cement and clinker imports, declined at a double-digit pace again in February; through February, imports are down just under 20 percent.

Reflecting on March 2003 data from several government-issued reports including the U.S. Geological Survey, The Monitor breaks down national economic trends, reports on cement consumption, and provides an in-depth analysis of construction activity for the residential, commercial, and public sectors.

The Monitor is available to PCA members and the media upon request.