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Rate of Decline in Construction Costs is Slowing, Economy on Rebound
"With construction starts down in most sectors, market competition continues to drive declines in construction costs, said Karl F. Almstead, Turner vice president, who is responsible for the Turner Building Cost Index. "However, global and domestic economies appear to be stabilizing." At mid-year, mechanical and electrical equipment orders are also down and production for the balance of 2009 is expected to continue with this trend. Turner Logistics, a subsidiary of Turner, has announced that while a few products have remained at 2008 pricing levels, most have declined, with some manufacturers pricing equipment at or below cost.
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