Construction cost index declines with material costs
A decrease in the cost of materials caused the Construction Cost Index calculations to fall 2% in the quarter ending April 2009 from the previous quarter. The index declined by 7.9% on an annualized basis. However, observers note that labor rates continue to increase, despite layoffs in the construction industry.
Reed/ACP Construction Data | 06/26
This story published in AGC SmartBrief on 06/29/2009
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