Construction Economics

March 2005
ENR: Engineering News-Record;3/28/2005, Vol. 254 Issue 12, p21
Trade Publication
The article informs that the U.S. department of Commerce revised downward its original estimate for public construction last year by 0.2 percent, dropping the year-end gain from 3.4 to 3.2 percent. Despite the slight decline, public construction was able to retain its record level of $233 billion. Public construction got off to an even stronger start this year with $15.5 billion in new work recorded during January, 6.1 percent more than the first month of 2004. The pace of public construction last year was set by a 3.4 percent increase in public education work and a 3.9 percent increase in highway construction. Structural steel prices ended the first quarter with a 3.6 percent increase. While lower than the 5.5 percent increase posted in March 2004, this month's price hike was the largest since last April's 3.6 percent increase.


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