Construction Material Prices Continue to Fall in November

Construction materials costs dropped in November, aided by a plunge in diesel prices along with smaller decreases in a variety of other inputs, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials noted that some of the price declines may be related to the fact that the threat of the fiscal cliff is already having an impact on demand for construction and related materials. "The recent price decreases are very welcome after years of price spikes that contractors could not pass on in a weak construction market," said Ken Simonson, chief economist for the construction trade association. "These price declines may be yet another sign that the threat of the fiscal cliff has already taken a toll on demand." Read the full press release here.