Although ENR’s cost indexes measure the costs of non-residential buildings, the downturn in the housing market still had a major impact on index movement. During this quarter, lumber prices in the indexes slipped another 0.8% after dropping 27% over the previous five years. Falling lumber prices had been offset by surging steel prices in 2008. However, steel prices were rolled back in 2009 and are just now firming, but with an uncertain future. Source: ENR Construction Economics Dept. Related Links: Economics: Despite Upturn in Steel, Lumber and Energy Prices Deflation Sweeps Cost Index Board Markets: Survey Shows Contractor Confidence Slowly
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.