Construction Material Prices Building Up Construction Costs

Construction costs rose again in July, according to IHS Markit and the Procurement Executives Group (PEG). The headline IHS Markit PEG Engineering and Construction Cost Index registered 51.3, down from 51.5 in June. Both material/equipment and labor had few categories with falling prices. While the material/equipment sub-index rose, the labor sub-index showed some weakness.

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Senate Committee Votes to Save, Increase TIGER Grants

According to a report in The Hiil, a Senate panel has rejected President Trump’s effort to eliminate Obama-era transportation grants, instead opting to provide a funding boost for the program.

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Cemex Second Quarter Net Income Spikes Higher

Cemex, S.A.B. de C.V. announced that consolidated net sales reached $3.6 billion during the second quarter of 2017, an increase of 2 percent on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, versus the comparable period in 2016. 

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June Construction Starts Climb 4 Percent

New construction starts in June grew 4 percent from the previous month to a seasonally adjusted annual rate of $679.9 billion, according to Dodge Data & Analytics. Nonresidential building increased 13 percent in June, strengthening after two months of lackluster activity, and the nonbuilding construction sector rose 8 percent with the help of elevated activity for electric utilities. However, residential building slipped 4 percent in June, as both sides of the housing market (single-family and multifamily) retreated.

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