{"id":618429,"date":"2023-03-14T19:00:00","date_gmt":"2023-03-15T00:00:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/14\/construction-materials-prices-up-0-4-in-february\/"},"modified":"2023-03-14T19:00:00","modified_gmt":"2023-03-15T00:00:00","slug":"construction-materials-prices-up-0-4-in-february","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/14\/construction-materials-prices-up-0-4-in-february\/","title":{"rendered":"Construction Materials Prices Up 0.4% in February"},"content":{"rendered":"
\n

WASHINGTON, <\/strong>DC \u2014 Construction input prices expanded 0.4% in February compared to the previous month, according to an Associated Builders and Contractors analysis of US Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices also rose 0.4% for the month.<\/p>\n

Overall construction input prices are 2.6% higher than a year ago, while nonresidential construction input prices are 2.8% higher. Natural gas prices fell sharply in February, down 41.4%, while crude petroleum prices rose 7.3%. Unprocessed energy materials prices were down 9.1% for the month.<\/p>\n

Behind the Numbers
<\/h3>\n

\u201cWhile the February construction materials price inflation data appear benign, a peek behind the headline numbers indicates that price pressures remain abundant,\u201d said ABC Chief Economist Anirban Basu<\/b>. \u201cAs an example, the price of brick and structural clay tile expanded 3.4% for the month and is up nearly 9% over the past year. The price of copper wire and cable increased 3.3% on a monthly basis and is up 40% since February 2020. In large measure, sharp declines in energy prices have pushed headline numbers lower in recent months, but there is plentiful evidence of lingering materials price inflation and supply chain challenges in the data.<\/p>\n

\u201cWith growing pressure on the global banking system and the Federal Reserve still wrestling with excess inflation, risks of recession continue to expand,\u201d said Basu. \u201cWhile contractors performing public construction and working on industrial megaprojects stand to fare well during the years ahead, the fortunes of many other contractors are increasingly threatened by elevated costs of capital, tightening financial conditions and the rising cost of delivering construction services. Eventually, these factors could whittle away at\u00a0backlog<\/a>, which is currently elevated, according to ABC\u2019s Construction Backlog Indicator, creating greater challenges for contractors in 2024 and\/or 2025.\u201d<\/p>\n

Visit\u00a0abc.org\/economics<\/a>\u00a0for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.<\/p>\n<\/div>\n

Read More<\/a>
\n Bong Ramage<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON, DC \u2014 Construction input prices expanded 0.4% in February compared to the previous month, according to an Associated Builders and Contractors analysis of US Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices also rose 0.4% for the month. Overall construction input prices are 2.6% higher than a year […]<\/p>\n","protected":false},"author":1,"featured_media":618430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2808,534,3204],"tags":[],"class_list":{"0":"post-618429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"category-financial","9":"category-materials"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/618429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=618429"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/618429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/618430"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=618429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=618429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=618429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}