Highway Materials Costs Fall by Nearly a Sixth

 

News regarding construction employment is not so favorable, however. Construction payrolls in July fell in 34 states plus the District of Columbia while only 13 states experienced gains (the others were neutral).
Courtesy of Wikipedia

The cost of construction materials used in highway and street construction has tumbled 15 percent over the last year, making improvements more affordable for state transportation departments.

According to a report from the U.S. Bureau of Labor Statistics, the largest decline in the construction industry's producer price index for July came in the highway and street segment. Overall materials costs fell 1.2 percent from June to July and 15 percent compared to July 2008. The price of steel and iron scrap tumbled nearly 57 percent year over year while cement prices were down 15 percent.

These reduced materials prices have resulted in huge cost savings for state DOTs, a particular benefit thanks to the additional projects being funded by American Recovery and Reinvestment Act dollars. This could translate into more opportunities in the landscape industry.

Courtesy of AASHTO