Contractors caught in cost squeeze: AGC

Dec 15, 2011 | 04:17 PM | Michael Cowden

Tags  steel prices, ASsociated General Contractors of America, AGC, Ken Simoneon, construction, construction materials, steel prices, diesel-fuel prices construction bids

TORONTO — Contractors could go out of business if prices for key construction materials—such as steel—continue to outstrip bids for finished products, the Associated General Contractors (AGC) of America said Thursday.

The amount contractors pay for key materials dipped 0.1 percent in November but climbed 6.2 percent from the same period a year ago, a larger increase than contractor bid prices, the AGC said. That cost squeeze, along with reduced public sector spending on construction, could drive....

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