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| construction
economics |
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 A
weekly price update for four key construction materials and
comments on recent trends. Includes links to in-depth analysis
from ENR's Quarterly Cost Reports.
ENR publishes both a Construction Cost Index and Building
Cost index that are widely used in the construction industry.
This website contains an explanation of the indexes methodology
and a complete history of the 20-city national average for
the CCI and BCI. Both indexes have a materials and labor component.
In the second issue of each month ENR publishes the CCI, BCI,
materials index, skilled labor index and common labor index
for 20 cities and the national average. The first issue also
contains an index review of all five national indexes for
the latest 14 month period. |
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| recent
cost indexes |
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| ENR's most recent
Construction Cost Index, Building Cost Index, Materials Cost
Index, which are updated monthly. Tables include monthly and
annual percent changes. |
| material
trends |
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Prices are updated monthly by ENR's price reporters who call
a single source for each product in 20 U.S. cities. The price
represents that paid by a contractor for a specified large
order. The national average prices and prices for individual
cities can be found in each issue of ENR on the Construction
Economics page. ENR's Quarterly Cost Reports analyze these
price trends in detail. Monthly prices appear on the following
weekly rotating cycle.
 Week one has prices for
21 products covering asphalt, cement, aggregates, concrete,
brick, concrete block and mason's lime.
To
view previous prices, click here
Week two has prices for 20 pipe products covering reinforced concrete pipe, corrugated steel pipe, vitrified clay pipe, PE underdrain, PVC sewer and water pipe, ductile iron pipe and copper water tubing.
To
view previous prices, click here
Week three has prices for 18 products covering lumber, plywood, plyform, particle board, gypsum wallboard and insulation.
To
view previous prices, click here.
Week four has prices for 16 products covering structural steel, reinforcing bar,
steel plate, metal lath, aluminum sheet, stainless steel
sheet and plate and H-piles. To view previous prices, click here
* Week five Occasionally we publish five issues in a month. When that happens, check the news section for Construction Economics information, under finance & Business. To view click here. |
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| using
ENR indexes |
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| Readers of ENR direct
a steady stream of questions about the magazines indexes and
how to accurately apply them to various construction projects.
To help clarify the nature and uses of the cost indexes, here
are answers to the most frequently asked questions and suggestions
on how to avoid costly mistakes. |
| factors affecting
ENR indexes |
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| The index was designed as a general purpose tool to chart basic cost trends. It remains today as a weighted aggregate index of the prices of constant quantities of structural steel, portland cement, lumber and common labor. |
| building
cost index history |
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| HOW ENR
BUILDS THE INDEX: 68.38 hours of skilled labor at the
20-city average of bricklayers, carpenters and structural ironworkers
rates, plus 25 cwt of standard structural steel shapes at the
mill price prior to 1996 and the fabricated 20-city price from
1996, plus 1.128 tons of portland cement at the 20-city price,
plus 1,088 board-ft of 2 x 4 lumber at the 20-city price. |
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| skilled
labor index |
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| The Skilled Labor
Index is the labor component of ENR’s Building Cost Index
and tracks union wages, plus fringe benefits, for carpenters,
bricklayers and iron workers. |
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| The Materials Cost
Index is the materials component of ENR’s building and
construction cost indexes. It tracks the weighted price movement
of structural steel, portland cement and 2 X 4 lumber.
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| HOW ENR
BUILDS THE INDEX: 200 hours of common labor at the 20-city
average of common labor rates, plus 25 cwt of standard structural
steel shapes at the mill price prior to 1996 and the fabricated
20-city price from 1996, plus 1.128 tons of portland cement
at the 20-city price, plus 1,088 board-ft of 2 x 4 lumber at
the 20-city price. |
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| common
labor index |
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| The Common Labor
Index is the labor component of ENR’s Construction Cost
Index and tracks the union wage, plus fringe benefits, for laborers. |
| cost
indexes in 20 cities |
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| The building and construction
cost indexes for ENR’s individual cities use the same components
and weighting as those for the 20-city national indexes. The
city indexes use local prices for portland cement and 2 X 4
lumber and the national average price for structural steel.
The city’s BCI uses local union wages, plus fringes, for
carpenters, bricklayers and iron workers. The city’s CCI
uses the same union wages for laborers. |
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Each quarter ENR publishes a cost report that analyzes current
construction materials price and labor cost trends. The reports
give hard statistical data quantifying cost trends as well
insight into what is are the main factors driving costs and
what the near-term outlook is. The reports appear at the end
of March, June, September and December and highlights are
reprinted below.
For comments or questions on Construction Economics, e-mail
Tim Grogan at grogant@mcgraw-hill.com
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