Price spikes for several key construction materials in September threaten to push contractors out of business, according to an analysis of federal figures released today by the Associated General Contractors of America. The recent surge comes despite mild year-over-year changes in materials prices overall.
“The latest surge in materials costs may push subcontractors and some general contractors into insolvency, following years of razor-thin margins and shrunken levels of activity,” said Ken Simonson, chief economist for the construction trade association. “Most contractors have no ability to pass on unexpected cost increases.”
Read the full press release here. The news was covered by the Phoenix Business Journal, Colorado Springs Business Journal, Construction Equipment and U.S. Glass News Network, among others.
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