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Turner Building Cost Index Forecast Construction Cost to Increase Slightly in Third Quarter - Turner Construction Company announced that the Third Quarter 2011 Turner Building Cost Index has slightly increased over the Second Quarter of 2011 - TCCO.com / TurnerConstruction.com
Turner Building Cost Index Forecast Construction Cost to Increase Slightly in Third Quarter

 

NewswireToday - /newswire/ - Detroit, MI, United States, 2011/09/27 - Turner Construction Company announced that the Third Quarter 2011 Turner Building Cost Index has slightly increased over the Second Quarter of 2011 - TCCO.com / TurnerConstruction.com.

   
 
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The Turner Building Cost Index measures costs in the non-residential building construction market in the United States. The Turner Building Cost Index of 814 reflects a 0.37% increase from the Second Quarter 2011 and 2.01% increase from the Third Quarter 2010.

Karl F. Almstead, the Turner vice president responsible for the Turner Building Cost Index said,“Commodity and material prices have stabilized on decreasing global demand. Structural Steel and Reinforcing Bar prices are remaining stable for the near future. Although the average union wage settlements are up slightly from a year ago, the overall impact of increased labor costs generally has had a negligible impact on construction cost escalation.”

Approximately 90% of Turner’s business is performed under contract arrangements, where Turner provides extensive preconstruction planning services before the contract price is fixed and before construction starts. By providing preconstruction services and utilizing enhanced procurement strategies, Turner effectively manages the market risks associated with cost-related issues.

Turner (turnerconstruction.com) has prepared the construction cost forecast for more than 80 years. Used widely by the construction industry and Federal and State governments, 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 considered on a nationwide basis, including labor rates and productivity, material prices and the competitive condition of the marketplace. This index does not necessarily conform to other published indices because others do not generally take all of these factors into account.

 
 
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Written by / Agency / Source: Turner Construction Company

 
 

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Turner Building Cost Index Forecast Construction Cost to Increase Slightly in Third Quarter

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Turner Construction |
Publisher Contact: Chris McFadden - TCCO.com 
212-229-6145 cmcfadden[.]tcco.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Turner Construction Company securities in any jurisdiction including any other companies listed or named in this release.

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