The price of materials and services used in nonresidential construction rose 0.5 percent in February, following an increase of 0.7 percent in January, according to an analysis by the Associated General Contractors of America of government data released today. Association officials noted that materials prices began increasing even before most of the threatened new tariffs were put in place.
“It’s a bad sign that construction costs have been rising significantly even before most of the Trump administration’s tariffs have taken effect,” said Ken Simonson, the association’s chief economist. “Now that many tariffs that hit construction materials are in effect, with more measures pending, construction costs are likely to rise much more.”
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