Issue link: https://read.dmtmag.com/i/1504191
I DA U N I V E R S A L Au g u s t - S e p te m b e r 2 0 2 3 31 New to the 2022-2023 IDA Membership, Protégés can get valuable business development help from their mentors in several areas, including: Guidance on internal business management systems, accounting, marketing, manufacturing, and strategic planning. If you are new to IDA and would like to partici- pate, contact our offi ce so that we can match you up with a Mentor. If you are an active member with IDA and would like to help welcome, network and mentor new businesses, please call our offi ce today (972) 241-1124. INTRODUCING THE IDA MENTOR/PROTÉGÉ PROGRAM NUTS & BOLTS continued from page 29 Construction Prices Decline in May: AGC Contractors are fi nally seeing some relief e price of materials and services used in nonresiden- tial construction decreased 0.6 percent from April to May, according to the Associ- ated General Contractors. Meanwhile, an index that measures contractors' bid prices inched up by 0.1 percent, the group said. Association offi cials said contractors are fi nally seeing some relief from recent supply chain problems and price escalations but cautioned that some key materials are still hard to fi nd and warned that new federal Buy America mandates could lead to future price escalations. "Contractors' bid prices have been virtually fl at since January as supply and price shocks from Russia's attack on Ukraine and the pandemic have faded," said Ken Simonson, chief economist, in a statement. "But there are still exceptionally long lead times for electrical equipment and renewed or persistent price increases for steel and concrete." e producer price index for new nonresidential construction—a measure of what contractors report they would charge to put up a specifi c set of buildings— edged up 0.1 percent in May. at increase followed a drop of 0.3 percent in April and brought the index back to its level in January, Simonson noted. e index for inputs to nonresidential construction, which is a weighted average of the prices charged by goods producers and service providers such as distributors and transportation fi rms, fell 0.6 percent from April to May, the third-straight monthly decrease. Prices for most major construction inputs were stable or declined in May. But the index for steel mill products jumped 5.2 percent, following a 3.6 percent increase in April. e index for concrete products rose for the 30th month in a row, by 0.8 percent, producing a year-over-year increase of 12.5 percent. Association offi cials said that Buy America require- ments that are part of the Infrastructure Investment and Jobs Act will severely limit the supply of materials contractors can use and increase the costs of those products when the guidance goes into eff ect. ey noted that the new require- ments are so strict that many products currently made in the U.S. will not comply because some of the materials used to make those products come from overseas. "Federal offi cials are attempting to wish away a diversifi ed global supply chain for construction materials by regulatory fi at," said Stephen E. Sandherr, CEO. "All of us want more domestic manufac- turing, but the reality is that it will take years—if ever— before the products those factories make will be entirely sourced within the U.S., as the administration is seeking to mandate." ● www.constructionequipment.com 6/23