Construction costs still rising
Published: December 16,2009
The price of construction materials and supplies rose 0.6 percent in November, the first increase in two months. That according to the producer price index (PPI) report by the U.S. Labor Department. However, the overall price of construction materials remains 2.3 percent below levels from one year ago.
Overall, the nation’s wholesale prices rose 1.8 percent on a monthly basis and are up 2.4 percent on a year-over-year basis.
“Increasingly, the producer price index for construction industries has come to reflect the growing economic recovery that has been in place since late summer 2009,” said Associated Builders and Contractors chief economist Anirban Basu. “Prices are now rising in general, a reflection of higher asset prices across the world, as well as the demand for materials in stimulus-impacted construction segments in the U.S. and in other nations, including China, India and Brazil.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- MARTIN WILLOUGHBY: Andrew Adams helps grow Addicus
- MISSISSIPPI RISING: Time to sell the image
- C Spire wins national award, cash prize for marketing analytics
- Grand juries charge seven with election violations
- Dak Prescott's autograph fetches a pretty penny
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment