Steel Markets
January 15, 2019
AGC: Construction Costs Down in December, But Up for the Year
Written by Sandy Williams
Construction costs declined in December after a year of price spikes, but remained higher than a year ago, said the chief economist for the Associated General Contractors of America.
“Steep declines in fuel prices in December offset mixed costs for other construction inputs, but most materials and services posted higher year-over-year increases than in 2017,” said AGC’s Ken Simonson in an analysis of government data. “The price index for new building construction outpaced the input cost index at the end of the year, but many contractors were probably caught by unexpected cost increases in 2018.”
