Costs Plunge In November, But Don't Cheer Yet

The Bureau of Labor Statistics reported Dec. 19 that construction costs had plunged in November. Specifically, declines were visible in diesel fuel, plastic construction products, lumber and plywood, gypsum products, and steel and copper products. But, “as long as demand in industrializing countries remains strong, construction is likely to face higher costs for materials that depend on world markets,” noted Ken Simonson, the AGC’s chief economist. Visit www.agc.org/podcast for further information.