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
- Drew Brees settles lawsuit alleging investment fraud
- Doctor convicted of using phony church for tax shelter
- Ex-Delta mayor indicted, accused of stealing city property
- Williams-Sonoma expanding, adding nearly 1,000 jobs
- Cochran's legal counsel asks Court to toss McDaniel's lawsuit
- Ex-baliff wants pay or her job back after termination
- More than half-dozen groups file charter school applications
- Biloxi baseball project still alive but may be held for 2015
- State Rep. Patterson switches from Democrats to GOP