Last Year's Cost Spike Subsides

Reina, Peter; Nicholson, Tom; Grogan, Tim
December 2005
ENR: Engineering News-Record;12/19/2005, Vol. 255 Issue 24, p30
Trade Publication
The article focuses on an annual survey of international construction costs conducted by London, England-based international project and cost management firm Gardiner & Theobald Inc. (G&T), according to which the average construction inflation for 30 countries in Europe, Asia, the Middle East, Latin America, and North America, slipped back to 4.9%. Overall, G&T expects the international inflation rate for construction to further ease in 2006. The 16 countries providing forecasts for 2006 predict that building costs will increase 4.4% next year. The same group of countries reported a 5.3% increase for 2005. But the legacy of economic turmoil that devastated Argentina in recent years continues to weigh heavily on construction costs.


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