The amount contractors pay for a range of key construction materials edged down 0.2 percent in December but climbed 5.3 percent from a year earlier, according to an analysis of producer price index figures released today by AGC. Meanwhile, the amount contractors charge to construct projects remained largely flat for the month and is up only between 3.3 and 4.7 percent for the year, cutting into contractor earnings and adding to the challenges the hard-hit industry is facing, AGC officials said.
“Any relief contractors might get from the recent declines in materials prices is being offset by their inability to raise prices for new construction projects,” said Ken Simonson, AGC's chief economist. “With overall demand relatively weak and public sector investments in construction declining rapidly, construction remains a buyer’s market.”
To read the full press release, click here.
To view the latest producer price index tables for construction, click here.
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