Construction Costs Surge in April

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The cost of goods used in construction jumped in April at the fastest year-over-year rate since 2011, with ongoing increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said that the new data indicates many firms are already being squeezed by higher materials prices that they are unable to pass along to their customers. “Contractors have started to boost the prices they charge, but they are falling … Read more

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U.S. Building Materials to Benefit from Construction Growth in 2016

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CHICAGO, Ill.—Continued growth in overall construction spending, albeit at a more moderate pace following a strong 2015, supports the stable outlook for the U.S. building and home products and services sector in 2016, according to Fitch Ratings’ 2016 outlook report. Fitch projects construction spending will expand 8 percent next year, driven by continued strength in new home and commercial construction. Fitch also expects modest growth in home improvement and public construction spending. The recent passage of the new $305-billion multi-year highway bill should boost public construction spending, although the positive effect will likely be more evident during the latter half … Read more

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