Turner Building Cost Index “The economy in the United States has shown signs of slow growth over the past six months. However, the construction market has remained relatively flat as an increase in private sector activity is offset by lower levels of activity in the public sector. Market competition continues to restrain the overall impact of slowly increasing material and labor costs.” Karl F. Almstead Vice President 2008 2009 2010 2011 650 950 900 850 800 750 700 Quarter 1st Quarter 2012 4th Quarter 2011 3rd Quarter 2011 2nd Quarter 2011 Index 821 818 814 811 % 0.37 0.49 0.37 0.62 Year 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 Average Index 812 799 832 908 854 793 717 655 621 619 613 595 570 % 1.6 -4.0 -8.4 6.3 7.7 10.6 9.5 5.4 0.3 1.0 3.0 4.4 3.8 Turner’s Building Cost Index is determined by the following factors considered on a nationwide basis: labor rates and productivity, material prices and the competitive condition of the marketplace. Donald V. Fites Engineering Innovation Center, Valaparaiso University Valparaiso, Indiana 2012 First Quarter Forecast 2012