Construction materials prices: Down 0.2% for quarter, 8.1% higher year ago
Tina Grady Barbaccia | October 18, 2011
The Associated Builders and Contractors (ABC) reports that while the nation’s wholesale prices increased for the first time in five months, construction materials prices were unchanged in September, according to the Oct. 18 Producer Price Index (PPI) report by the Department of Labor.
Construction materials prices decreased 0.2 percent for the quarter, but are 8.1 percent higher than one year ago, ABC reports.
“The expectation is that the demand for commodities will not be quite as brisk from this point forward,” notes ABC Chief Economist Anirban Basu. “Despite today’s [Oct. 18] report, there is no reason to believe that construction materials prices will generally decline during the months ahead, even if the global economy continues to soften.”
Basu says that there is an expectation that the demand for commodities “will not be quite as brisk from this point forward so that it is likely that materials prices are no longer on the rise.”
MORE FROM Economics
- Congress passes spending bill; cuts billions from federal construction accounts558 Views
- Maintaining America’s most historic tourist routes546 Views
- Tappan Zee bridge construction shut down after silos collapse490 Views
- Last second Christmas gift ideas for highway and bridge construction workers141 Views
- With no plans to raise gas tax, Alabama will rely on 2015 bond issue for road projects75 Views