Contractors continue to feel the squeeze of project scarcity and rising materials prices, said Ken Simonson, chief economist of the Associated General Contractors of America. Prices for construction materials increased 0.6% in October, according to the latest Producer Price Index figures. "As if declining demand and dramatic layoffs weren't enough, the construction industry also has to pay more for key materials while charging the same for finished projects," Simonson said in a statement.

Related Summaries