Materials Prices, Supply Chain Woes Threaten Recovery: AGC
SHARE May 17, 2021
The cost of goods and services used in construction accelerated further in April as more items logged double-digit increases over the past year, according to an analysis by the Associated General Contractors of America (AGC) of government data released today.
Meanwhile, nonresidential contractors struggled with delays in receiving materials and intensifying competition that limited their ability to pass on higher costs. Association officials urged the Biden administration to quickly roll back tariffs and quotas on imported construction materials that are adding to costs and availability problems.
“Today’s producer price index report bad though it is actually understates the severity of the problems contractors are experiencing,” said Ken Simonson, the association’s chief economist. “Many items have posted even steeper price in
RPT-Job fears, price spikes mean heartburn for Biden White House as economy revs up
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Job fears, price spikes mean heartburn for Biden White House as economy revs up
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Sunday, 16 May 2021 08:40 PM MYT
US President-elect Joe Biden delivers remarks during a televised speech on the current economic and health crises at The Queen Theatre in Wilmington, Delaware January 14, 2021. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
WASHINGTON, May 16 High unemployment. Rising prices. Gas lines.
They’re a bad memory for Americans old enough to remember the 1970s but they’re also likely causing a few sleepless nights in the White House, as the United States’ economic recovery from the unprecedented coronavirus recession hits some bumps.
The jolts are dampening consumer confidence, ramping up inflation fears, and helping Republicans build their case against President Joe Biden and his ambitious plans to revamp the US economy with trillions in new spending.