Although ENR’s cost indexes measure the costs of nonresidential buildings, the downturn in the housing market still has a major impact on index movement. During this quarter, lumber prices in the indexes were down another 1.8%, after dropping 23% over the previous four years. Falling lumber prices had been offset by surging steel prices. However, the current recession has sent steel prices tumbling. As a result, the Building Cost Index (BCI) fell 1.8% this quarter, pulling the year-to-year escalation down from 7.3% last fall to 4.3% this month. The Construction Cost Index (CCI) is less affected by these swings in
The 2016 Summer Olympics boating and swimming events have put an international spotlight on what has been a long-running problem in Rio de Janeiro—untreated sewage and trash are clogging up major bays and waterways.