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| Turner Corporation Forecasts Increase In Construction Costs The Turner Corporation, the US leading general builder, announced that construction costs in the fourth quarter of 2005 are projected to increase over the third quarter of 2005. According to the Turner Building Cost Index, the fourth quarter 2005 index will rise to 746, showing a 2.75 percent increase over the third quarter 2005 index of 725 and a 9.71 percent increase over the fourth quarter 2004 index of 674. According to Karl F. Almstead, the Turner vice president responsible for the Cost Index: “Material prices continue to drive cost escalation. Steel, cement (concrete), copper gypsum wallboard and petroleum based products are all experiencing cost increases and shortages in some areas due to domestic demand for finished products and global demand for raw materials. The competition for labor is intensifying in active markets creating additional pricing pressure.” write your comments about the article :: © 2005 Construction News :: home page |