Prices for construction materials inched down in December, closing out a year of relatively subdued changes in both materials costs and bid prices, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials said the price decline was likely to be temporary, noting that the vast majority of contractors predict materials prices will rise in 2013.
“Moderate price swings for several materials last year gave contractors some breathing room, but future price spikes could push many firms into the red,” said Ken Simonson, chief economist for the construction trade association. “Contractors still have not recovered from the cost increases they had to absorb in 2010 and 2011.”
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