Turner Releases Third Quarter Building Cost Index

Turner Construction Company has released its Third Quarter 2015 Turner Building Cost Index — which measures costs in the non-residential building construction market in the United States. The value has increased to 949, which reflects a 1.17 percent increase from second quarter 2015 and a 4.52 percent yearly increase from third quarter 2014.

Reduced cost of fuel and manufactured components was offset by a continued increase in construction activity which drove an overall increase of costs in the third quarter. While the South and Northeast have seen steady growth in activity similar to that of the first two quarters of 2015, the West has experienced a more pronounced increase in construction.

Approximately 90 percent of Turner's business is performed under contract arrangements where Turner provides extensive preconstruction planning services before the contract price is fixed and before construction starts. By providing preconstruction services and utilizing enhanced procurement strategies, Turner effectively manages the market risks associated with cost-related issues.