Dive Brief:
- Numbers from the U.S. Labor Department showed overall construction materials prices were up last month to 2% over 2013, although the nonresidential portion of the market was flat, Associated Builders and Contractors reported.
- Several products related to oil, including asphalt and tar roofing, were down, as was petroleum itself.
- Among the products Labor reported increases were softwood lumber (up 3.4% from June), plumbing fixtures, concrete products, and steel-mill products.
Dive Insight:
The flat prices for nonresidential materials was attributed to shrinking demand globally. ABC's chief economist Anirban Basu said that bad economic news in Japan and Europe also contributed.
