Although Florida’s economy improved modestly in 2011, most of the improvement did not benefit the construction and materials sectors. Housing remains the primary drag, as Florida ranks near the top of the U.S. list in foreclosures, negative equity, and delinquent loans. In addition, immigration, a significant historical source of economic and construction growth in Florida, has retreated in recent years to one-half its former pace, as depressed prices of houses in other parts of the U.S. have limited the ability of retirees and others to relocate.
According to the U.S. Geological Survey, cement consumption in Florida was 3.7 million tons in 2011, the same level recorded in 2010.
Aggregates volumes increased in 2011 with TITAN America’s entry into additional end-use markets. This allowed the business to capitalize on infrastructure investments in proximity to its South Florida quarry.
Ready-mix concrete demand increased for the first time in six years, but pricing remained under pressure and the ability to recover some input cost increases was limited.
Sales of concrete block improved, remaining however, at levels well below capacity.