Costs for a wide range of building materials during the early weeks of 2021 have continued to rise, according to a just-released industry survey.
The Institute for Supply Management, in its monthly survey of purchasing executives, noted steady increases in the price of everything from copper, vinyl siding, and concrete, to steel, gypsum and lumber.
Contractors, according to the Institute, were not only reporting greater materials costs in January, but also delayed deliveries from suppliers.
Many of the survey respondents additionally noted delays in obtaining personal protective equipment.
Despite problems with the supply chain, a separate Institute survey indicates that a wide spectrum of businesses last month had increased orders for basic supplies by some by some 3.2%.
The Institute also reports an uptick in new construction business orders, along with a more positive second quarter 2021 outlook within the retail sector, and an increase in capital investments in the utilities sector.
Overall, January economic activity in the services sector, reports the Institute, was up for the eighth month in a row.
The oldest supply management association in the world, the Institute of Supply Management is based in Tempe, Arizona.
By Garry Boulard
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