Despite several years of recovery, construction inflation is still feeling the impact of the recession that reduced the number of subcontractors and, in turn, still is pushing up bids.
Among the theories floated for this year’s lagging response by specialty contractors to ENR’s annual regional surveys is that those contractors have just been too busy working.
Two big events hit construction this quarter: Brexit—that is, the British vote to leave the European Union— and the U.S government’s decision to increase tariff duties on Chinese cold-rolled flat steel by 522%.