Construction Material Costs Dip in October

Construction contractors face a continuing cost squeeze, even though a key price index for construction materials dipped in October and showed only a moderate increase over the past year, according to an analysis of federal figures released today by the Associated General Contractors of America. Association officials warned that recent and announced price increases may threaten the survival of some contractors. “Although several materials retreated in price last month, prices in the past year have still outpaced the tiny increases in contractors’ bids,” said Ken Simonson, chief economist for the construction trade association. “In addition, some of the price drops have already reversed, or will soon, leaving contractors who have already submitted bids vulnerable to losses.” Read the full press release here. The news was covered by the Amarillo Globe News, International Construction, Construction Equipment Guide and Loan Safe, among others.