Higher 3rd Qtr. Construction Costs Forecast

Dallas, Tex. (Sept. 19) — Construction costs in the third quarter of 2001 are projected to increase 0.33% over the second quarter, according to Dallas-based Turner Construction Corp. (www.turnerconstruction.com/cost.html). The Turner Building Cost Index says the third quarter 2001 index will increase to 614, one point above the second quarter 2001 figure and 2.67% above the third quarter last year.

"Regionally, some markets are responding to the slowing economy with costs level to the last quarter," Turner Vice President Karl F. Almstead said. Almstead is responsible for Turner's Building Cost Index. "The construction markets in major metropolitan areas, however, continue to be strong."

The building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter. The cost index is determined by several factors considered on a nationwide bases, including labor rates and productivity, material prices, and marketplace competitiveness.