Nonresidential construction starts jump.
Theproducer price index(PPI) for finished goods fell 0.2% in October, not seasonally adjusted
(also -0.2%, seasonally adjusted) and rose 2.3% over 12 months, the Bureau of
Labor Statistics (BLS) reported on Wednesday. ThePPI
for inputs to construction- a weighted average of
the cost of all materials used in construction plus items consumed by
contractors such as diesel fuel-decreased 0.4% for the month, after climbing
0.9% for two consecutive months.
key construction inputshave moved sharply in both directions
since PPI data was gathered in mid-October. Scrap steel
prices have climbed and steel makers have responded with numerous price
In other news, thevalue
of nonresidential construction startsin October
jumped 20% from a year earlier,Reed
Construction Datareported, based on data it collected. Starts for the first 10
months of 2012 combined rose 10.5% from the same period in 2011. Nonresidential
building starts climbed 8.7% year-to-date, with gains of 17.5% for commercial
starts; industrial (manufacturing) starts, 12.5%; and institutional starts,
3.0%. Heavy engineering (nonbuilding) starts rose 13%.
information, view the October PPI tablehere.
AGC of America