Survey shows construction sector ranks first in product price increases

Results also show many products in short supply

The Institute for Supply Management recently conducted a survey of nonmanufacturing purchasing executives regarding economic growth and industrial price increases. The construction sector ranked first out of the six sectors that reported the highest increase in prices paid.

Some of the items that respondents listed as showing a price increase were aluminum products; cable and cable wire; conduit and fittings; copper products like pipe, cable, tubing, and wire; diesel fuel; welding wire/electrode; and numerous steel items. Copper, steel pipe and fittings, and other steel items were noted as being in short supply.