The amount contractors pay for a range of key construction materials edged down 0.1 percent in November but climbed 6.2 percent from a year earlier, outstripping the increase in contractors’ bid prices for finished buildings, according to an analysis of producer price index figures released today by AGC. Officials with the construction association warned that the cost squeeze on contractors, combined with declining public sector investments in construction, may drive many contractors out of business.
“Price increases have moderated or even reversed direction at the moment for essential construction materials but prices are likely to increase in the next few weeks,” said Ken Simonson, AGC’s chief economist. “Meanwhile, federal construction funding has slowed sharply, and some may be cut off completely by next week, leaving contractors in desperate shape.”
To read the full press release, click here.
To view the latest producer price index tables for construction, click here.
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