Description:What a difference six months can make. During the third quarter of last year construction inflation was still reeling from the impact of record-high steel and oil prices set during the first half of 2008. By the first quarter of 2009, the inflation trend had completely reversed itself. Most major construction cost indexes tracked by ENR declined this quarter. Materials producers are frantically cutting production as prices hit rock bottom. Construction's unemployment rate jumped into the double digits, and a severe credit crunch is pushing many subcontractors closer to the edge of bankruptcy.
Main Articles:
• Economics: Inflation eases, but tight credit squeezes subcontractors
• Contracts: Falling prices tempt owners to renegotiate
• Labor: The return of project labor agreements
• Internet: Finding cost data on enr.com
• Methodology: What is driving inflation?
• Statistics: How to use ENR's cost indexes
• City Indexes: Inflation from Atlanta to Seattle
Data Tables:
• Builders' Construction Cost Indexes
• ENR's Materials Price Index (1988-2009)
• ENR's Common Labor Index (1995-2009)
• ENR's Skilled Labor Index (1995-2009)
• Building Cost Index History (1923-2009)
• ENR Cost Indexes in 20 Cities, 1983-2009
