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After the pandemic and supply chain issues caused prices to soar, it is expected that prices will return to moderate in the new year
Global construction consulting firm Linesight predicts that after experiencing hyperinflation earlier this year, the prices of construction goods in the United States will fall in 2022.It also expects total U.S. construction spending to peak 1.707 trillion US dollars In the new year, this is an increase of nearly 4% over 2021. The survey results are part of Linesight’s third quarter commodity report and price forecast, based on interviews with nearly 160 industry experts around the world.
From the end of 2020 to the middle of 2021, commodity prices of construction materials such as wood, steel, copper and concrete have soared to unprecedented levels. There are several factors behind the price increase. The pandemic disrupted the production cycle and affected the supply chain. Forest fires in the United States and Canada interrupted timber logging…
The full story can be found on Benzinga.com
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