Turner Forecasts Slight Construction Cost Increase

Third quarter 2002 construction costs are projected to increase 0.16%, as compared to the second quarter of this year, according to the Turner Corporation, a large Dallas-based contractor that completed $6.3 billion in construction projects in 2001.

Turner’s building cost index is based upon a number of factors including labor rates, productivity, material prices and competition in the marketplace.

“In general, the market appears to be finding an equilibrium,” said Carl F. Almstead, a vice president with Turner. “The competitive market forces are offset by a slight upward pressure of increases in labor and materials. The industry is maintaining a cautious optimism, even though many market segments have not yet rebounded significantly. Several sectors, such as education and health care, have remained strong.”

For more information about Turner’s building cost index, visit: www.turnerconstruction.com .

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