The producer price index for inputs to construction industries - a
weighted average of the price of all goods used in every type of construction,
plus items consumed by contractors, such as diesel fuel - was flat for September
but up 8.1 percent over the September 2010 level.
The pickup for total construction in August was
the result of greater activity for each of construction’s three main sectors - nonresidential
building [7 percent], residential building [4 percent] and nonbuilding
construction [13 percent]. For the first eight months of 2011, total
construction on an unadjusted basis was down 6 percent from the same period a
housing starts edged down 1.5 percent to a seasonally adjusted annual rate of
604,000 units in July, while the June BuildFax Remodeling Index reported its highest remodeling numbers in 20 months.
“While the RMI indicates that the home
remodeling market softened somewhat in the second quarter, this is still the
second highest RMI we’ve been able to report since the third quarter of 2007,”
said NAHB Chief Economist David Crowe.