The producer price index (PPI) for final demand in March, not seasonally adjusted, rose 0.5% from February and 3.0% year-over-year (y/y) from March 2017, the Bureau of Labor Statistics (BLS) reported on Tuesday. AGC posted tables and an explanation focusing on construction prices and costs. Final demand includes goods, services and five types of nonresidential buildings that BLS says make up 31% of total construction.

Construction spending totaled $1.273 trillion at a seasonally adjusted annual rate in February, up 0.1% from the upwardly revised January rate and up 3.0% from February 2017, the Census Bureau reported today. Public construction declined 2.1% for the month but increased 1.6% year-over-year (y/y). Of the three largest public segments, highway and street construction fell 0.2% for the month and 5.1% y/y; educational construction slipped 0.5% from January but increased 3.0% y/y; and transportation dropped 2.2% for the month but increased 9.2% y/y, including a 35% y/y jump in state and local airport construction and an 8% decrease in other public transportation (port, transit and passenger rail) construction.

The producer price index (PPI) for final demand in February, not seasonally adjusted, increased 0.3% from January and 2.8% year-over-year (y/y) from February 2017, the Bureau of Labor Statistics (BLS) reported on Wednesday. AGC posted tables and an explanation focusing on construction prices and costs. Final demand includes goods, services and five types of nonresidential buildings that BLS says make up 31% of total construction. 

President Trump announced on Wednesday that he would impose tariffs of 25% on all imported steel and 10% on all imported aluminum. The impact of tariffs is likely to be severe for construction. "The American Iron and Steel Institute estimates that 43% of U.S. steel consumption goes to the construction industry," the Wall Street Journal reported today.