Construction Firms Getting Squeezed by Increasing Materials, Labor Costs

The cost of materials used in construction rose markedly faster than the price of completed buildings, according to a new analysis of federal producer price data recently released by the Associated General Contractors of America. Association officials cautioned that potential restrictions on the use of imported construction materials threaten to drive up the price of infrastructure, buildings and new homes and apartments. “Steep price hikes have hit a wide range of key materials used in construction in the past few months, and contractors have received numerous letters from vendors announcing large additional increases in the next month or two,” said … Read more

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