Labor, Materials Prices Drive Construction Costs Higher: IHS Markit Index

Survey respondents reported shortages of materials including electrical steel, eclectic components and cement.

Construction growth hits six-month high in January

Growth in the construction sector rose to its highest level in six months, according to the Purchasing Managers' Index (PMI). Activity was boosted by a jump in new orders, with particularly high demand for commercial work. The index, compiled by IHS Markit and the Chartered… The post Construction growth hits six-month high in January appeared first on Construction News.

New orders rise as industry shakes off Omicron impact

New orders rose at the fastest pace in four months in December, despite fresh uncertainty caused by the Omicron variant. The resilient demand was reported in new IHS Markit / CIPS Purchasing Managers’ Index data. Respondents said there had been instances of clients delaying decisions… The post New orders rise as industry shakes off Omicron impact appeared first on Construction News.

Activity rose in October as material pressures ease

Construction activity increased marginally in October as firms reported a slight easing in material shortages and cost pressures. The activity reading from the IHS Markit/CIPS Purchasing Managers’ Index (PMI) came in at 54.6, up from 52.6 in September, and marked a rebound from the eight-month… The post Activity rose in October as material pressures ease appeared first on Construction News.

Construction Costs Continue to Grow in September

The September 2021 headline IHS Markit PEG Engineering and Construction Cost Index decreased 11.4 index-points from August to 65.6, though construction costs continue to rise, according to IHS Markit (NYSE: INFO) and the Procurement Executive Group (PEG). For the eleventh … The post Construction Costs Continue to Grow in September first appeared on Commercial Construction and Renovation.