AGC: COST OF CONSTRUCTION MATERIALS RISES 7.4% YOY

摘要

According to analysis by the Associated General Contractors of America (AGC) of new Labor Department data, the cost of many products used in construction rose 7.4% over the past year due to double digit increases in commonly-used construction materials. AGC officials noted that the cost increases come as many construction firms are already grappling with shortages of skilled craftsmen, but have limited ability to increase prices for their services. "The new construction materials cost data likely under-reports actual price increases, since federal officials collected most of their data in the first half of the month, before new tariffs affecting many construction materials started," said the association's chief economist, Ken Simonson. "Contractors are paying more for the materials they use and workers they employ but aren't able to pass most of those new costs on to their clients."