Addressing attendees of CMD Group’s 56 Annual CEO Breakfast held June 22-25, 2000 in Atlanta, economist Bill Toal predicted continued high volume in most construction market segments despite signs that a slowdown is beginning. “Be happy,” he told the group; with construction levels reaching new highs, a slowing still indicates a high volume of activity.
The CEO Breakfast, held in conjunction with the Construction Specifications Institute’s annual convention, attracted nearly 150 construction industry executives anxious to hear Toal’s midyear construction forecast. As chief economist with the Portland Cement Association, Toal is a leading forecaster and analyst of construction activity in the United States. His experience includes seven years with the Federal Reserve Bank in Atlanta, and he told the group that slowing in the industry is occurring as a direct result of the Fed’s increases in interest rates.