Construction Cost Report July 2013

cassidyturley. com | 1 Construction Report July 2013 Summary • The most recent economic data suggests that private non-residential construction activity will experience a modest increase during the remainder of the year. • The overall cost of construction... More

cassidyturley. com | 1 Construction Report July 2013 Summary • The most recent economic data suggests that private non-residential construction activity will experience a modest increase during the remainder of the year. • The overall cost of construction increased by +2. 5% in July 2013 relative to one year ago. • The level of commercial real estate construction has trended up over the past 12 months. • The cost of petroleum has been rising as recent turmoil in Egypt is reverberating in the oil markets. Analysis Unlike the residential sector, which finally found its growth spurt, private non-residential construction spending has gained only a little momentum in the 1st half of 2013 – registering an average growth rate of 0. 4% per month. The good news is that there have been flashes of increased spending for certain sectors. For instance in May 2013, spending was up for hotels (25%), office properties (10%) and retail structures (5%) when compared to the same period a year ago. Ho Less