The "pandemic" seems to be losing its grip in certain sectors, specifically construction where numbers show projects are gaining momentum again.
“The vast majority of construction projects were deemed essential business operations during the COVID-19 pandemic. Many of the projects that were paused or slowed earlier this year have ramped up and are back on track," said Turner Vice President Attilio Rivetti.
Rivetti compiles the Cost Index which measures costs in the non-residential building construction market in the United States.
He says we are seeing increases for fabricated building materials, which is being offset as subcontractor work increases.
Turner has prepared the construction cost forecast for more than eight decades. The building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter.
The Cost Index is determined by several factors including labor rates and productivity, material prices and marketplace vitality.
