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| Construction costs continue to increase in 4Q 2012 Turner Construction Company announced that the Fourth Quarter 2012 Turner Building Cost Index – which measures costs in the non-residential building construction market in the United States – has increased to a value of 839. This reflects a 0.84% increase from the Third Quarter 2012 and 2.57% yearly increase from the Fourth Quarter 2011. Karl F. Almstead, the Turner vice president responsible for the Turner Building Cost Index, said, "Construction activity has been restrained awaiting the outcome of the U.S. election and negotiation to resolve the Fiscal Cliff. In the near term, Super Storm Sandy will have a regional impact on the residential and commercial construction markets as people and companies struggle to recover and rebuild. In the long term, the storm may have an impact if building owners and urban planners begin to make preventive changes in their public and private infrastructure." write your comments about the article :: © 2012 Construction News :: home page |