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Both construction material costs and the amount contractors can charge for work increased in July.

The Associated General Contractors’ for new construction (what contractors charge for new projects) rose 1.0-1.3 percent last month, the highest growth rate in two years in most cases, bringing hope to the sector that has been hit hard by federal budget cuts in public construction.

But with the volatility of materials markets like copper, the cost of which rose 7 percent in July, increases in how much contractors can charge may soon be overshadowed by material costs.

to AGC CEO Stephen E. Sandherr:

Contractors will have a hard time increasing, or even holding the line on bid levels if the federal government continues to cut investments in infrastructure and construction…That being said, anyone looking for a good deal for new construction should act now in case prices continue to increase.鈥�

Maybe someone should build a copper mine? Two birds with one stone….

Photo by via Flickr