Construction prices rose 0.5 percent in October and are 7.9 percent high than at the same time a year ago, according to an analysis of Bureau of Labor Statistics Producer Price Index data conducted by Associated Builders and Contractors. Prices for nonresidential construction inputs also increased 0.5 percent on a month-over-month basis and are up…
Construction materials
Construction Materials Prices Surge Again in May With Largest Monthly Increase in a Decade, Says ABC
Prices for inputs to construction materials expanded 2.2 percent in May and are 8.8 percent higher than at the same time one year ago, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics data released today. This represents the largest monthly increase in 10 years (since May 2008). Nonresidential…
Avoiding the Element of Surprise and the Notice of Furnishing Labor or Materials
Generally, no one benefits from surprises on a construction project. A particular problem that often catches general contractors by surprise occurs when a lower-tier subcontractor or materials supplier (i.e., one who does not contract with the general contractor but instead has a contract with a subcontractor) suddenly appears claiming that an unpaid contract balance is…
Construction Materials Prices Soar
Growth in the construction industry is having a significant impact on key construction materials according the Associated General Contractors (AGC) of America. Double-digit price increases for key construction materials pushed up construction costs in March, while the prices charged by contractors remained moderate, according to a new analysis of federal producer price data by AGC. Leaders…
