Washington, Jan. 17, 2023 (GLOBE NEWSWIRE) — The top economist in the cement, concrete and construction industries predicts a stronger U.S. economy during the first half of this year than was previously expected but believes there will likely be a slowdown in economic growth starting this summer.
Portland Cement Association’s (PCA) Chief Economist and Senior Vice President of Market Intelligence, Ed Sullivan, made the comments today when presenting his economic forecast for the industries at the annual World of Concrete trade show.
Mr. Sullivan explained that with the economy showing more near-term resilience, the Federal Reserve might be more aggressive with rate hikes. Given the timing lags associated with Fed actions, the economic fundamentals will eventually weaken. A recession, characterized by…
