AGC: Construction Costs Decline in August, Headwinds Persist

The prices contractors pay for construction materials and services—chiefly for new nonresidential construction—declined 1.1% month-on-month (MoM) in August, as a steep drop in fuel prices masked increases in the cost of other construction inputs, the Associated General Contractors of America (AGC) reported in its latest analysis of government data.

AGC cautioned that limited price declines cannot undo the harm of clogged supply lines and labor shortages.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.