Contractors Thrive on Steady Diet Of Hospital and Education Projects

摘要

Many sectors of the U.S. general building market continue to fare well. But there is growing concern among construction executives that higher interest rates and soaring energy and materials costs could soon have a detrimental effect on market performance. "We saw prices [for building materials] escalate about 3% in 2003 and more than 8% in 2004, and we are looking at similar escalation for 2005," says Nicholas Makes, senior vice president and portfolio director at Turner Construction, New York City. Already high energy prices, exacerbated by Hurricane Katrina's blow to the nation's largest energy hub, could put even more pressure on materials prices and could eventually dampen clients' enthusiasm to build, say industry sources.