The rise in construction material prices likely slowed due to depressed confidence in U.S. economic growth for the coming year, according to ABC Chief Economist Anirban Basu.
He said in a release that reports suggest the country’s GDP for the first quarter will expand around 1%, coming in below expectations of 2% for 2017’s first three months. A leveling off in energy prices, in turn, could drive materials price growth to moderate.
