Construction Input Prices Rise in May, Says ABC

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Construction input prices rose 0.8% in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released recently. Nonresidential construction input prices rose by 0.8% for the month as well. Of the 11 subcategories, only three experienced monthly decreases, with the largest decrease in steel mill products, which fell 3.1% in May. The rise in prices was driven primarily by the three energy subcategories, which experienced significant increases over the previous month. Crude petroleum was up 41.6%, while natural gas and unprocessed energy materials were up … Read more

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Construction Input Prices Rebound in July, Says ABC

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Construction input prices expanded 0.8% in July but are down 0.6% year-over-year, according to a recently released Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased 0.8% for the month but have declined 0.3% on a year-ago basis. Much of the year-over-year decline can be explained by plummeting energy prices, including crude petroleum (-20.3%), natural gas (-31%) and unprocessed energy materials (20.9%). The prices of softwood lumber (-19.5%) and iron and steel (-11.1%) are also down significantly since July 2018. “The decline in construction input prices over … Read more

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Construction Costs Soar in May, Outpace Contractor Pricing

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Construction costs accelerated again in May, with steep increases for a wide range of building and road materials, including many that are subject to tariffs that could drive prices still higher, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials say that the construction industry will bear a heavy share of the tariffs’ costs. “Prices jumped at double-digit annual rates for metals, lumber and plywood, and diesel fuel, while ready-mixed concrete, asphalt paving and roofing materials also had unusually large increases,” said the association’s chief economist, Ken Simonson. “The cost of … Read more

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Construction Input Prices Stable in July

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WASHINGTON, D.C. – Nonresidential construction input prices were unchanged in July according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. Input prices for both the nonresidential construction segment and construction as a whole are 2.3 percent lower than they were a year ago. “ABC has been predicting relative stability in input prices, and that is precisely what July’s report delivered,” said ABC Chief Economist Anirban Basu. “A weak and disappointing global economy has not been able to drag prices higher. Persistently low prices have placed a lid on the … Read more

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