Design & ConstructionCOST PROJECTIONS BEGINNING FY 2012 The Past Year 2010 Construction unemployment peaked around 29% and is now falling in many states. We have seen small increases in non-residential construction starts, beginning in mid-2010, but those increases were probably due in part to Federal stimulus funds. . January 2010 to January 2011 price changes:
The Forecast for 2011 Architectural firms nationwide are showing a slight increase in billings which shows promise for the economic recovery. AGC Data Digest reports February 15, 2011. The state-funded construction outlook remains grim. “To date, some 44 states and [D.C.] are projecting budget shortfalls for fiscal year 2012, which begins July 1, 2011 in most states,” the Center on Budget and Policy Priorities reported on Wednesday. “These come on top of the large shortfalls that states closed in fiscal years 2009 through 2011.” Also reported in the January 19, 2011 Data Digest “…Meanwhile, lack of work and strong competition have forced contractors to hold the line on bid prices.” With prices for metals and diesel fuel on the rise, cost projections for the coming year are as follows:
These projections were compiled from multiple sources including AGC of America, US Bureau of Labor Statistics and Reed Construction Data. Historical Cost Indexes
Obtained from RS Mean
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