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| Turner forecasts increase in construction costs  Turner Construction Company, the leading general builder in the US, announced that construction costs in the third quarter 2006 are projected to increase over the second quarter 2006. According to the Turner Building Cost Index, the third quarter 2006 index will rise to 801, showing a 1.78 percent increase over the second quarter 2006 index of 787 and a 10.33 percent increase over the third quarter 2005 index of 726. Turner has made its quarterly forecast for more than 60 years.According to Karl F. Almstead, the Turner vice president responsible for the Building Cost Index, “The frenzied market activity of the past several quarters appears to be stabilizing. Although the strain on skilled labor remains, a lower level of volatility in commodities has served as a stabilizing influence on construction costs. This is reducing the unpredictability of costs in the market.” write your comments about the article :: © 2006 Construction News :: home page |