FHWA REPORTS ROAD CONSTRUCTION COSTS FOR FOURTH QUARTER OF 1999 |
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Federal Highway Administration
14 February 2000
FOR IMMEDIATE
RELEASE
Monday, February 14, 2000
Contacts:
Karen Whitney, (202)366-0660
Claretta Duren, (202)366-4636
FHWA 8-00
FHWA REPORTS ROAD CONSTRUCTION COSTS FOR FOURTH QUARTER OF 1999
The Federal Highway Administration (FHWA) today announced that highway construction costs increased 9.3 percent in the fourth quarter of 1999 as compared to the third quarter of 1999 and 9.7 percent compared to the fourth quarter of 1998.
The fourth quarter raised the FHWA's composite index for highway construction costs to 144.1 percent of the 1987 base index (1987 average costs equal 100 percent).
Increases in the unit prices for portland cement concrete, structural steel, and structural concrete raised the index in the fourth quarter. There were decreases in the unit prices for common excavation, bituminous concrete and reinforcing steel.
The three-quarter moving composite price index for the third quarter of 1999 - obtained by combining data for the last three quarters of 1999 - increased 3.2 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 |
| 4th Quarter1 | 1997 | 138.2 | -- | 124.7 | -- |
| 1st Quarter | 1998 | 119.6 | -13.5 | 124.6 | |
| 2nd Quarter | 1998 1997 |
125.6 | 5.0 | 125.8 | 1.0 |
| 3rd Quarter | 1998 | 136.8 | 8.9 | 130.6 | 3.8 |
| 4th Quarter | 1998 | 131.4 | -3.9 | 132.8 | 1.7 |
| 1st Quarter | 1999 | 130.7 | -0.5 | 134.4 | 1.2 |
| 2nd Quarter | 1999 | 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 | -- | -- |
The price levels of the component items of the quarterly index in the 4th quarter of 1999, the previous quarter, and the same quarter a year ago, and the corresponding percentage changes, are shown in the following table:
| Price
Index 1987 = 100 |
Percentage
change this quarter (4th quarter, 1999) from: |
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| Component | 4th Quarter 1999 | 3rd Quarter 1999 | 4th Quarter 1998 | 3rd Quarter 1999 | 4th Quarter 1998 |
| Excavation | 109.3 | 133.4 | 114.0 | -18.1 | -4.1 |
| Portland cement concrete | 190.3 | 127.1 | 170.8 | 49.7 | 11.4 |
| Bituminous concrete | 133.9 | 135.9 | 104.7 | -1.5 | 27.9 |
| Composite surfacing | 152.4 | 133.0 | 126.4 | 14.6 | 20.6 |
| Reinforcing steel | 127.2 | 128.8 | 133.5 | -1.2 | -4.7 |
| Structural steel | 147.3 | 125.9 | 125.8 | 17.0 | 17.1 |
| Structural concrete | 155.2 | 132.6 | 152.0 | 17.0 | 2.1 |
| Composite structures | 148.3 | 130.2 | 141.9 | 13.9 | 4.5 |
| Composite price index | 144.1 | 131.8 | 131.4 | 9.3 | 9.7 |
The price levels of the current component items of the three-quarter moving index in the 3rd quarter of 1999, 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 1987 = 100 |
Percentage
Change This Quarter (3rd Quarter 1999) from: |
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| Component | 3rd Quarter 1999 | 2nd Quarter 1999 | 3rd Quarter 1998 | 2nd Quarter 1999 | 3rd Quarter 1998 |
| Excavation | 124.2 | 125.1 | 124.6 | -0.7 | -0.3 |
| Portland cement concrete | 163.9 | 152.2 | 161.2 | 7.7 | 1.7 |
| Bituminous concrete | 134.1 | 129.1 | 117.0 | 3.9 | 14.6 |
| Composite surfacing | 143.9 | 137.1 | 131.5 | 5.0 | 9.4 |
| Reinforcing steel | 126.8 | 125.2 | 116.1 | 1.3 | 9.2 |
| Structural steel | 138.0 | 135.1 | 123.5 | 2.1 | 11.7 |
| Structural concrete | 142.9 | 138.2 | 140.2 | 3.4 | 1.9 |
| Composite structures | 138.8 | 135.1 | 131.7 | 2.7 | 5.4 |
| Composite price index | 138.7 | 134.4 | 130.6 | 3.2 | 6.2 |
The U.S. average contract unit prices for the index items during the various periods shown are:
| Individual Quarters | Three-Quarters | ||||
| Component | Unit | 3rd Quarter 1999 | 4th Quarter 1999 | 2nd Quarter 19991 | 3rd Quarter 19992 |
| Excavation | Cubic yard | $3.23 | $2.65 | $3.03 | $3.01 |
| Portland cement concrete | Square yard3 | 18.72 | 28.04 | 22.43 | 24.16 |
| Bituminous concrete | Ton | 33.53 | 33.00 | 31.97 | 33.04 |
| Reinforcing steel | Pound | 0.568 | 0.560 | 0.552 | 0.559 |
| Structural steel | Pound | 1.115 | 1.304 | 1.195 | 1.222 |
| Structural concrete | Cubic yard | 319.34 | 373.81 | 332.71 | 344.14 |