Building Magazine


U.S. construction material costs will rise 6 to 8 per cent in 2008, economist says

The price of construction materials will rise by six to eight per cent in the United States in 2008, according to a recent report by Ken Simonson, an economist with the trade association Associated General Contractors, of Arlington, Va.

Diesel fuel will remain “well above” last year’s prices throughout 2008, and steel prices will be about five per cent higher than last year because of the declining dollar and increasing production costs, the report said. Concrete will rise by between two per cent and four per cent, while copper will rise by at least 10 per cent. Only gypsum, used in wallboard, will fall in price, by between 10 percent and 20 percent.

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