Construction costs have decreased in the second quarter of 2020as a result of the coronavirus pandemic, according to the newTurner Construction Co. cost index.

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Turner Construction Co.' second quarter costindex measures the country's costs in the non-residentialbuilding construction market.

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The report showed a value of 1177, which was a 1.01 percentquarterly reduction in the second quarter from the first quarter of2020.

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Attilio Rivetti, vice president at Turner Construction,attributed the drop to an increase in competition betweentrade contractors as they attempt to line up futureopportunities.

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As a result Rivetti said, Turner Construction expects the thirdquarter will show a clearer picture of the various fluctuatingcosts in the construction industry. Rivetti is responsible forcompiling the cost index at Turner Construction Company.

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The decrease in construction costs in the second quarter in theTurner cost index differs from what was seen earlier in July, asthe increase of 500,000 construction jobs showed a stabilization ofconstruction costs.

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Turner Construction has published the construction costforecast for the last 80 years. The building costs and price trendsin the company's cost index may reflect regional conditions in aquarter, and is determined by various factors nationwide. Thevarious factors include labor rates and productivity, materialprices, and marketplace competition.

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