Construction material prices fell by half a percent in November 2013 according to a report by the U.S. Department of Labor (DOL). In a recent DOL Producer Price Index report, the numbers are up by 1.1 percent from the same period in 2012. The DOL report noted that non-residential construction materials prices are down 0.6 percent for the month while the Country's wholesale goods prices have jumped by 0.2 percent. Associated Builders and Contractors (ABC) Chief Economist Anirban Basu told the Illinois-based Metal Construction News that November represented another month of remarkable stability for construction input prices and 2014 is not likely to offer as much stability as last year."Although many investors predicted significant inflation this year due to expansionary monetary policies in much of the developed world, there continues to be a lack of significant inflationary pressures both globally and nationally," said Basu. "Global economic growth is set to accelerate and the apparent budget deal in Congress should produce greater certainty among businesses, helping improve an already benign national economic forecast."
Some promising figures from the November report that GET,LLC will be keeping a close eye on:• Fabricated structural metal products were up 0.1 percent for the month and 0.3 percent year over year.
• Nonferrous wire and cable prices rose 0.2 percent on a monthly basis and are down 3 percent year over year.
• Iron and steel prices were up 1.8 percent for the month and are down 0.1 percent compared to the same time last year.
• Steel mill products prices increased 0.8 percent in November but are down 0.6 percent compared to the same time last year.
Let's all hope that the November numbers are a view into the activity in the next 12 months.
GET, LLC can assist with all your construction supply needs including great American made energy efficient lighting products from Independence LED Lighting and Deco Lighting, structured cabling solutions from Panduit and Cisco, and your steel building needs through our friends at MCR Guam Inc. Give us a call a 671-797-0789 to talk further about how we can help on your respective job site or check out our website at www.get-guam.com for more details about our products and capabilities.