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Rising material and labour costs add US$97 billion to expenses of US subcontractors

Subcontractors in the US were hit with additional costs of US$97 billion in 2022 due to rising costs of materials and labour, according to a new study from Billd of nearly 900 commercial construction professionals across the US.

Just over 80% of those surveyed reported that rising material costs and price volatility had a negative effect on their businesses in 2022; almost all expect that trend to continue.

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