Questions? Give Us a Call
(678) 940-6433

ACOG: Construction costs down in December; materials and service prices up

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

ACOG: Construction costs down in December; materials and service prices up

Keep up with the latest from CCR-Mag.com

Fill out the form Below

After a year marked by numerous price spikes, construction costs declined in December but remained elevated compared to year-earlier prices, while prices of new buildings also moved higher, according to an analysis by the Associated General Contractors of America of recentย Labor Department data. Association officials noted that the cost of many construction projects is increasing as firms cope with labor shortages and increased costs for many of the materials they need for projects.ย 
Association officials say that the producer price index for inputs to construction industriesโ€”a weighted average of all goods and services used in constructionโ€”decreased 0.8 percent in December but ended the year 3.8 percent higher than in December 2017. The index for energy costs declined 11.5 percent for the month and 3.9 percent for the year. But the price of other goods used in construction climbed 0.1 percent for the month and 4.8 percent for the year, more than the 3.3 percent increase in the index in 2017. The price index for services purchased by contractors also accelerated, rising 0.4 percent for the month and 4.2 percent for the year, following a 3.7 percent gain in 2017.
An index that measures what contractors report they would charge to construct new nonresidential buildings was unchanged for the month and ended the year 5.3 percent higher than in December 2017, following a 2.7 percent rise in 2017, the economist noted. He observed that this “bid-price” index outpaced the index for construction input costs only in the last two months of 2018, implying that many contractors experienced unexpectedly high costs for materials and services during the year.
Association officials said higher construction prices will increase the cost of many public infrastructure projects and could undermine the financial viability of new private-sector development projects. They urged Washington officials to resolve trade disputes that have led to new and threatened tariffs on a host of construction materials. They also called for comprehensive immigration reform and new federal investments in career and technical education to prepare and recruit more people into the construction industry.

Events

Read more BELOW

ย 

The 2024 virtual Men’s Round Table will be held Q4, 2024, date TBD.

2024 Virtual Menโ€™s Round Tables

2023 Virtual Men’s Round Table was held on November 7th, 2023 via Zoom.


ย 

2024 Virtual Women’s Round Table

2023 Women’s Round Table #1 was held on October 20th, 2023 via Zoom

News

Costa Ricaโ€™s Hotel Belmar named #3 Best Resort in Central America

Recognized for its varied wildlife, sustainability efforts, adventurous and wellness pursuits and more, the country of Costa Rica (Travel + Leisureโ€™s Destination of 2024) continues to produce the best and brightest in the hospitality industry.ย In the recently released Travel + Leisure Worldโ€™s Best Awards 2024,

Supplements/Podcast
See Website for Details

This content (including text, artwork, graphics, photography, and video) was provided by the third party(ies) as referenced above. Any rights or other content questions or inquiries should be directed such third-party provider(s).

Receive the CCR 2024 Idustry Report

Get ahead of your Competitors with CCR's FREE Industry Insider's Report 2024!

Always stay two steps ahead of your Competitors. Stay informed with the latest in the Industry.ย 

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

This site uses cookies to ensure that you get the best user experience. By choosing “Accept” you acknowledge this and that ccr-mag.com operates under the Fair Use Act. Furthermore, Changing privacy laws now require website visitors from EEA based countries to provide consent in order to use personalized advertising or data modeling with either Google Ads & Analytics. Find out more on the Privacy Policy & Terms of Use Page