FHWA Reports Road Construction Costs Increased in First Quarter of 2001 |
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Federal Highway Administration
May 9, 2001
FOR IMMEDIATE RELEASE
Wednesday, May 9, 2001
Contacts:
Karen Whitney, (202) 366-0660
Claretta Duren, (202) 366-4636
FHWA 19-01
U.S. Department of Transportation’s Federal Highway Administration (FHWA)
today announced that highway construction costs increased 0.9
percent in the first quarter of 2001 compared to the fourth quarter of
2000, and increased 9.5 percent compared to the first quarter a year ago.
The
first quarter results raised the FHWA's composite index for highway
construction costs to 151.2 percent of the 1987 base index (1987 average costs
equal 100 percent).
Increases
in the unit prices for common excavation, structural steel, and portland
cement concrete raised the index in the first quarter. There were decreases in the unit prices for reinforcing
steel, structural concrete, and bituminous concrete.
The three-quarter moving composite price index for the fourth quarter of 2000 -- obtained by combining data for the last two quarters of 2000 with the first quarter of 2001 -- decreased 1.6 percent from the previous three-quarter average.
Trends
in highway construction costs are measured by an index of average contract
prices compiled from reports of state highway contract awards for federal-aid
contracts greater than $500,000. Since
the enactment of the Intermodal Surface Transportation Efficiency Act of 1991,
the index reflects federal-aid contracts on the National Highway System.
The
composite price indices during the past two years and the percentage changes
from the preceding quarter have been as follows:
|
Quarter |
Year |
Quarterly Price Index |
Percentage Change |
Three-quarter Moving Index1 |
Percentage Change |
|
1st
Quarter1 Quarter |
1999 |
130.7 |
-- |
134.4 |
-- |
|
2nd
Quarter |
1999 1997 |
143.4 |
9.7 |
134.4 |
0.0 |
|
3rd
Quarter |
1999 |
131.8 |
-8.1 |
138.7 |
3.2 |
|
4th
Quarter |
1999 |
144.1 |
9.3 |
137.2 |
-1.1 |
|
1st
Quarter |
2000 |
138.1 |
-4.2 |
144.6 |
5.4 |
|
2nd
Quarter |
2000 |
156.6 |
13.4 |
143.8 |
-0.6 |
|
3rd
Quarter |
2000 |
137.9 |
-11.9 |
148.2 |
3.1 |
|
4th
Quarter |
2000 |
149.9 |
8.7 |
145.9 |
-1.6 |
|
1st
Quarter |
2001 |
151.2 |
0.9 |
-- |
-- |
1 For
the three-quarter moving index, these are the middle quarters of the
three-quarter periods.
The price levels of the
component items of the quarterly index in the 1st quarter of 2001, the
previous quarter, and the same quarter a year ago, and the corresponding
percentage changes, are shown in the following table:
|
Price
Index
|
Percentage
change
|
||||
|
Component |
1st
Quarter 2001 |
4th
Quarter 2000 |
1st
Quarter 2000 |
4th
Quarter 2000 |
1st
Quarter 2000 |
|
Excavation |
161.3 |
124.1 |
111.8 |
30.0 |
44.3 |
|
Portland cement concrete |
203.2 |
179.9 |
170.9 |
13.0 |
18.9 |
|
Bituminous concrete |
143.2 |
148.2 |
132.5 |
-3.4 |
8.1 |
|
Composite
surfacing |
162.9 |
158.6 |
145.1 |
2.7 |
12.3 |
|
Reinforcing steel |
130.7 |
133.6 |
133.9 |
-2.2 |
-2.4 |
|
Structural steel |
165.1 |
161.3 |
121.9 |
2.4 |
35.4 |
|
Structural concrete |
125.7 |
150.6 |
151.3 |
-16.5 |
-16.9 |
|
Composite
structures |
136.9 |
150.5 |
140.6 |
-9.0 |
-2.6 |
|
Composite price index |
151.2 |
149.9 |
138.1 |
0.9 |
9.5 |
The price levels of the current
component items of the three-quarter moving index in the 4th quarter of
2000, the previous quarter, and the same quarter a year ago, and the
corresponding percentage changes, are shown in the following table:
|
Three-Quarter
Moving Price Index
|
Percentage
Change This Quarter
|
||||
|
Component |
4th
Quarter 2000 |
3rd
Quarter 2000 |
4th
Quarter 1999 |
3rd
Quarter 2000 |
4th
Quarter 1999 |
|
Excavation |
132.9 |
128.9 |
114.7 |
3.1 |
15.9 |
|
Portland cement concrete |
185.5 |
173.1 |
160.2 |
7.2 |
15.8 |
|
Bituminous concrete |
143.8 |
146.1 |
134.0 |
-1.6 |
7.3 |
|
Composite
surfacing |
157.5 |
154.9 |
142.6 |
1.7 |
10.4 |
|
Reinforcing steel |
117.1 |
120.8 |
130.1 |
-3.1 |
-10.0 |
|
Structural steel |
160.2 |
159.4 |
132.7 |
0.5 |
20.7 |
|
Structural concrete |
137.0 |
151.3 |
146.1 |
-9.5 |
-6.2 |
|
Composite
structures |
139.8 |
148.3 |
139.8 |
-5.7 |
0.0 |
|
Composite price index |
145.9 |
148.2 |
137.2 |
-1.6 |
6.3 |
The
U.S. average contract unit prices for the index items during the various periods
shown are:
| Individual Quarters |
Three-Quarters |
||||
|
Component |
Unit |
4th
Quarter 2000 |
1st
Quarter |
3rd
Quarter 20001 |
4th
Quarter 20002 |
|
Excavation |
Cubic yard |
3.01 |
3.91 |
3.15 |
3.22 |
|
Portland cement concrete |
Square yard3 |
26.51 |
29.93 |
25.50 |
27.33 |
|
Bituminous concrete |
Ton |
36.54 |
35.31 |
36.01 |
35.44 |
|
Reinforcing steel |
Pound |
0.589 |
0.576 |
0.532 |
0.516 |
|
Structural steel |
Pound |
1.427 |
1.461 |
1.411 |
1.418 |
|
Structural concrete |
Cubic yard |
362.70 |
302.70 |
364.46 |
330.04 |
1 Weighted average unit prices for the last three quarters of
2000.
2 Weighted average unit prices for the last two quarters of 2000
and the first quarter of 2001.
3 Prices for Portland cement concrete surfacing reflect
adjustments to a standard 9-inch thickness and do not include costs for
reinforcing steel and joints.
###