The Sullivan Report analyzes the post-2026 IIJA replacement, outlining four policy scenarios and their implications for U.S. cement demand, infrastructure spending, and market risk.

The 2025 federal government shutdown ended after six weeks with a short-term funding deal - through Jan. 2026 - delaying key issues but causing modest GDP and construction funding impacts.

U.S. cement and construction markets face another year of contraction given inflation's impact on highway construction, a broken Highway Trust Fund, and IIJA replacements.

The Sullivan Report's latest update details alternative economic scenarios to its Baseline forecast. It assesses the potential for different outcomes under various assumptions regarding the impact of tariffs, monetary policy, and overall economic resiliency through 2030.

Following the last employment report and revisions, The Fed cutting rates in September was anticipated. Stronger-than-expected PPI data challenges expectations of a Fed rate cut in September, with core prices rising 3.7% annually.

Recent evidence suggests the U.S. economy may be drifting toward a slower growth path - becoming fragile. While job numbers can be volatile, job growth is slowing and trend toward further weakening. There are signs consumer is struggling under the weight of inflation.