FHWA Reports Road Construction Costs Down in Third Quarter of 2000 |
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Topics: Federal Highway Administration
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Federal Highway Administration
November 14, 2000
FOR IMMEDIATE RELEASE
Tuesday, November 14, 2000
Contacts:
Karen Whitney, (202) 366-0660
Claretta Duren, (202) 366-4636
FHWA 122 -00
The Federal Highway Administration (FHWA) today announced that highway construction costs decreased 11.9 percent in the third quarter of 2000 compared to the second quarter of 2000, and increased 4.6 percent compared to the third quarter a year ago.
The third quarter results lowered the FHWA's composite index for highway construction costs to 137.9 percent of the 1987 base index (1987 average costs equal 100 percent).
Decreases in the unit prices for bituminous concrete, reinforcing steel, common excavation, structural steel, portland cement concrete and structural concrete lowered the index in the third quarter.
The three-quarter moving composite price index for the second quarter of 2000 – obtained by combining data for the first three quarters of 2000 – decreased 0.6 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 |
3rd Quarter1 Quarter |
1998 |
136.8 |
-- |
130.6 |
-- |
|
4th Quarter |
1998 |
131.4 |
-1.1 |
132.8 |
1.7 |
|
1st Quarter |
1999 1997 |
130.7 |
-7.4 |
134.4 |
1.2 |
|
2nd Quarter |
1999 |
143.4 |
13.0 |
134.4 |
0.0 |
|
3rd Quarter |
1999 |
131.8 |
-13.5 |
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 |
-- |
-- |
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 3rd quarter of 2000, 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 |
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|
Component |
3rd Quarter 2000 |
2nd Quarter 2000 |
3rd Quarter 1999 |
2nd Quarter 2000 |
3rd Quarter 1999 |
|
|
Excavation |
121.2 |
143.6 |
133.4 |
-15.6 |
-9.1 |
|
|
Portland cement concrete |
167.4 |
170.2 |
127.1 |
-1.6 |
31.7 |
|
|
Bituminous concrete |
140.2 |
148.9 |
136.0 |
-5.8 |
3.1 |
|
|
Composite surfacing |
149.1 |
155.9 |
133.1 |
-4.4 |
12.0 |
|
|
Reinforcing steel |
84.2 |
150.2 |
128.8 |
-43.9 |
-34.6 |
|
|
Structural steel |
151.7 |
161.9 |
125.9 |
-6.3 |
20.5 |
|
|
Structural concrete |
139.3 |
164.8 |
132.6 |
-15.5 |
5.1 |
|
|
Composite structures |
133.2 |
161.5 |
130.2 |
-17.5 |
2.3 |
|
|
Composite price index |
137.9 |
156.6 |
131.8 |
-11.9 |
4.6 |
|
The price levels of the current component items of the three-quarter moving index in the 2nd quarter of 2000, the previous quarter, and the same quarter a year ago, and the corresponding percentage changes, are shown in the following table:
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|
Three-Quarter Moving Price Index 1987 = 100
|
Percentage Change This Quarter |
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|
Component |
2nd Quarter 2000 |
1st Quarter 2000 |
2nd Quarter 1999 |
1st Quarter 2000 |
2nd Quarter 1999 |
|
|
Excavation |
124.1 |
118.6 |
125.1 |
4.6 |
-0.8 |
|
|
Portland cement concrete |
168.7 |
173.0 |
152.2 |
-2.5 |
10.8 |
|
|
Bituminous concrete |
141.1 |
138.5 |
129.7 |
1.9 |
8.8 |
|
|
Composite surfacing |
150.2 |
149.8 |
137.1 |
.03 |
9.6 |
|
|
Reinforcing steel |
120.9 |
135.5 |
125.2 |
-10.8 |
-3.4 |
|
|
Structural steel |
145.9 |
144.6 |
135.1 |
0.9 |
8.0 |
|
|
Structural concrete |
151.2 |
154.6 |
138.2 |
-2.2 |
9.4 |
|
|
Composite structures |
144.6 |
148.7 |
135.1 |
-2.8 |
7.0 |
|
|
Composite price index |
143.8 |
144.6 |
134.4 |
-0.6 |
7.0 |
|
The U.S. average contract unit prices for the index items during the various periods shown are:
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Individual Quarters
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Three-Quarters
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|
Component |
Unit |
2nd Quarter 2000 |
3rd Quarter 2000 |
1st Quarter 20001 |
2nd Quarter 20002 |
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Excavation |
Cubic yard |
3.48 |
2.94 |
2.88 |
3.01 |
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Portland cement concrete |
Square yard3 |
25.07 |
24.65 |
25.49 |
24.85 |
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Bituminous concrete |
Ton |
36.72 |
34.55 |
34.13 |
34.78 |
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Reinforcing steel |
Pound |
.662 |
0.371 |
0.597 |
0.533 |
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Structural steel |
Pound |
1.432 |
1.343 |
1.280 |
1.291 |
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Structural concrete |
Cubic yard |
396.92 |
335.58 |
372.31 |
364.08 |
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1 Weighted average unit prices for the last quarter of 1999 and the first two quarters of 2000.
2 Weighted average unit prices for the first three quarters of 2000.
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.