News

Construction Material Costs Dip in October

Construction contractors face a continuing cost squeeze, even though a key price index for construction materials dipped in October and showed only a moderate increase over the past year, according to an analysis of federal figures released today by the Associated General Contractors of America. Association officials warned that recent and announced price increases may threaten the survival of some contractors. 鈥淎lthough several materials retreated in price last month, prices in the past year have still outpaced the tiny increases in contractors鈥 bids,鈥 said Ken Simonson, chief economist for the construction trade association. 鈥淚n addition, some of the price drops have already reversed, or will soon, leaving contractors who have already submitted bids vulnerable to losses.鈥 Read the full press release . The news was covered by聽the , , and , among others.