The Association of Equipment Manufacturers (AEM) released a new report that shows more than 100,000 family-sustaining equipment manufacturing jobs can be created before the end of President Biden’s first term in office. According to the data by IHS Markit, these are high-skilled jobs in primarily rural areas that pay an average annual income of $88,000, which is 35% above the…
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Sand and Gravel Prices
June 29, 2020 – According to Deni Koenhemsi, senior economist ECR, Pricing and Purchasing for IHS Markit, “Sand and gravel prices very much stand out from other commodities, which have registered sizeable price drops in April and May. Although in year-over-year terms, escalation is slowing down; the sand and gravel prices do not show the effects of the pandemic.”
Read MoreConstruction Labor Costs Stabilize
Engineering and Construction costs fell in June, according to IHS Markit and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 49.0 in June, falling just short of the neutral mark 50; a neutral index reading indicates responders see no change in pricing. The materials and equipment portion of the index came in at 47.2, still indicating falling…
Read MoreCommodities Drop Sharply as Global Economy Takes a Hit
According to William May, senior economist, IHS Markit, as COVID-19 spreads worldwide, markets have begun pricing in a global decline in economic activity on the scale of that witnessed in China during the past two months.
Read MoreConstruction 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.
Read MoreConstruction Costs End 2016 on a High Note
Construction costs rose for the second straight month, according to IHS Markit and the Procurement Executives Group (PEG). The headline current IHS PEG Engineering and Construction Cost Index (ECCI) registered 53.3, up from 50.7 in November, continuing the recovery after a 22-month slump in prices. Strength was evident in both labor and material markets.
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