Even as some parts of the economy are supposedly improving, with maybe inflation growth showing signs of slowing in the U.S., the state of commercial construction is painful, according to an analysis from construction consultancy Rider Levett Bucknall.
A graph of their data through mid second quarter of 2022 shows that if anything, the speed of growth for costs, indexed to April 2001, has gotten faster.
"According to the U.S. Department of Commerce, construction-put-in-place during April 2022 was estimated at a seasonally adjusted annual rate of $1,744.8 billion, which is 0.2% above the revised March 2021 estimate of $1,740.6 billion, and 12.3% above the April 2021 estimate of $1,553.5 billion," the firm wrote.
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