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Price Trends for Federal-Aid Highway Construction


1987 Base Fourth Quarter 2004


Three-Quarter Moving Index Price Trend

1987 Base

Three-Quarter Moving Index Price Trend for Fourth Quarter 2004. Graph of Composite Index versus Year from 2000 - 2004. The data can be found in the Price Trends for Federal-Aid Highway Construction - Three-Quarter Moving Index table below

The three-quarter moving composite price index is the weighted average of the indices for three consecutive quarters.

The Composite Bid Price Index is composed of six indicator items: common excavation, to indicate the price trend for all roadway excavation; portland cement concrete pavement and bituminous concrete pavement, to indicate the price trend for all surfacing types; and reinforcing steel, structural steel, and structural concrete, to indicate the price trend for structures. Descriptions of the six indicator items can be found in Federal-aid Policy Guide G-6011-10.

Development of the index is discussed in some detail in PUBLIC ROADS magazines, volume 31, No. 10, October 1961; volume 36, No. 4, October 1970; and volume 45, No. 1, June 1981.

Average contract prices shown herein are based on actual bids and include costs of materials, labor, equipment, overhead and profit.

Disclaimer: The base for each State index is its own particular "market basket" of quantities and costs during the base period. The composite index for each State measures the change in that State's index since base year 1987. (in 1987 each State's index equaled 100). These indices are not to be used for State comparisons.

FHWA guidance calls for data to be provided on all National Highway System projects except those projects with a contract value less than $500,000, or installation of protective devices at railroad grade crossings, or beautification projects. Despite this requirement, FHWA may not receive all data required to be submitted in any year and, in some cases, no data is received from a state for an entire year. In addition, when data are not received in time to be included in the composite price trend for the quarter or year, FHWA routinely includes these data in the subsequent period's reporting. Finally, FHWA performs limited review of data for accuracy and does not verify data entry by its staff. FHWA has not assessed the degree to which these conditions affect reported price trends, although it believes that underreporting is the most material limitation in the quality of the reported data.

This document is disseminated under the sponsorship of the Department of Transportation in the interest of information exchange. The United States Government assumes no liability for the use of the information contained in this document.

Office of Infrastructure,
Office of Program Administration
(202) 366-4636
Publication Number FHWA-IF-05-020
For Official Distribution

Price Trends for Federal-Aid Highway Construction

1987 Base
Year Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete 2 Bituminous concrete Surfacing index Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
1972 .72 29.7 6.42 43.6 9.23 37.5 39.5 .181 41.1 .342 38.6 100.17 41.6 40.7 38.6
1973 .80 33.0 7.00 47.5 10.02 40.7 42.9 .207 47.0 .372 42.0 111.81 46.4 45.4 42.5
1974 1.00 41.2 8.88 60.3 14.74 59.8 60.0 .339 76.9 .551 62.3 136.80 56.8 61.7 57.9
1975 1.03 42.5 8.88 60.3 15.13 61.4 61.0 .297 67.4 .554 62.6 138.76 57.6 60.6 58.1
1976 1.03 42.5 8.92 60.6 14.83 60.2 60.3 .258 58.5 .484 54.7 139.59 58.0 57.2 56.3
1977 1.16 47.8 9.95 67.5 15.47 62.8 64.3 .272 61.7 .520 58.8 143.51 59.6 59.7 59.8
1978 1.54 63.5 11.90 80.8 17.16 69.6 73.3 .316 71.7 .603 68.1 172.41 71.6 70.7 70.7
1979 1.62 66.8 14.02 95.2 21.21 86.1 89.0 .421 95.5 .759 85.8 211.33 87.8 88.6 85.5
1980 1.83 75.5 14.92 101.3 25.29 102.6 102.2 .483 109.6 .941 106.3 226.68 94.1 100.0 97.2
1981 1.76 72.6 14.17 96.2 25.63 104.0 101.4 .438 99.4 .790 89.3 231.64 96.2 94.9 94.2
1982 1.59 65.6 13.03 88.5 24.33 98.7 95.3 .407 92.4 .762 86.1 219.63 91.2 90.0 88.5
1983 1.74 71.8 12.69 86.1 24.27 98.5 94.4 .398 90.3 .708 80.0 213.85 88.8 86.7 87.6
1984 1.90 78.4 13.64 92.6 26.52 107.6 102.7 .409 92.8 .709 80.1 218.02 90.5 88.2 92.6
1985 2.24 92.4 14.31 97.1 28.52 115.7 109.6 .444 100.7 .796 89.9 243.60 101.2 98.1 102.0
1986 2.28 94.0 15.63 106.1 26.48 107.4 107.0 .442 100.3 .850 96.0 236.37 98.2 98.0 101.1
1987 2.42 100.0 14.80 100.0 24.65 100.0 100.0 .441 100.0 .885 100.0 240.81 100.0 100.0 100.0
1988 2.72 112.2 14.33 97.3 24.91 101.1 99.8 .494 112.1 .924 104.4 274.12 113.8 111.0 106.6
1989 2.40 99.0 15.17 103.0 24.08 97.7 99.4 .556 126.2 1.018 115.0 283.40 117.7 118.4 107.7
1990 2.38 98.1 15.91 108.0 24.52 99.5 102.3 .529 120.0 1.010 114.1 286.18 118.8 117.8 108.5
1991 2.32 95.5 16.58 112.5 25.52 103.6 106.5 .505 114.6 1.030 116.4 264.98 110.0 112.5 107.5
1992 2.20 90.8 17.80 120.8 24.66 100.1 106.9 .520 117.9 .916 103.5 259.61 107.8 108.4 105.1
1993 2.50 103.2 18.81 127.7 26.26 106.6 113.5 .467 106.0 .861 97.3 261.89 108.7 105.3 108.3
1994 2.75 113.2 20.88 141.7 27.80 112.8 122.3 .515 116.8 .847 95.7 271.94 112.9 109.0 115.1
1995 2.73 112.8 22.07 149.8 28.87 117.1 127.9 .542 122.9 .922 104.2 302.66 125.7 119.5 121.9
1996: 2.92 120.6 19.64 133.3 27.50 111.6 118.7 .581 121.5 1.068 120.7 293.85 122.0 121.6 120.2
1997: 2.85 117.6 23.75 161.2 23.39 119.2 133.0 .567 128.7 1.186 134.0 320.90 133.2 132.7 130.6
1998: 3.01 124.3 23.65 160.5 25.00 101.4 120.8 .544 123.4 1.111 125.5 337.25 140.0 133.4 126.9
1999: 2.93 120.9 23.49 159.5 32.28 130.9 140.3 .554 125.7 1.224 138.3 342.24 142.1 138.3 136.5
2000: 3.01 124.1 25.30 171.7 35.15 142.6 152.2 .549 124.6 1.351 152.6 363.66 151.0 146.9 145.6
2001: First quarter 3.91 161.3 29.93 203.2 35.31 143.2 162.9 .576 130.7 1.461 165.1 302.70 125.7 136.9 151.2
Second quarter 3.29 135.8 21.42 145.4 34.42 139.6 141.5 .550 124.7 1.057 119.4 337.67 140.2 132.1 136.5
Third quarter 2.50 103.2 27.60 187.4 35.57 144.3 158.4 .545 123.7 1.176 132.8 343.27 142.5 136.8 140.6
Fourth quarter 3.27 135.1 29.09 197.5 35.87 145.5 162.6 .726 164.6 1.166 131.8 392.65 163.0 155.1 155.1
Annual 3.05 125.9 28.21 191.5 34.93 141.7 158.1 .601 136.4 1.201 135.8 339.44 140.9 138.8 144.8
2002: First quarter 3.05 125.7 24.26 164.7 31.00 125.8 138.5 .618 140.2 1.628 183.9 395.18 164.1 165.2 148.4
Second quarter  2.94 121.3 32.31 219.3 35.52 144.1 168.8 .631 143.2 1.427 161.2 393.88 163.6 159.5 157.5
Third quarter 3.05 125.6 23.66 160.6 36.16 146.7 151.3 .583 132.3 1.433 161.9 377.90 156.9 154.0 148.6
Fourth quarter 2.67 109.9 28.31 192.2 33.33 135.2 153.9 .620 140.8 .972 109.8 336.13 139.6 131.9 137.6
Annual 2.94 121.2 25.86 175.5 34.14 138.5 150.7 .610 138.4 1.436 162.2 374.96 155.7 154.5 147.9
2003: First quarter 5.15 212.2 23.55 159.8 32.35 131.3 140.6 0.647 146.7 1.177 133.0 441.81 183.5 163.8 161.6
Second quarter 3.23 133.1 24.33 165.1 33.86 137.4 146.5 .833 188.9 1.272 143.7 425.42 176.6 170.0 154.8
Third quarter 4.09 168.6 29.07 197.3 31.92 129.5 151.8 .631 143.1 1.102 124.6 374.83 155.6 145.3 151.4
Fourth quarter 2.67 110.0 21.14 143.5 31.57 128.1 133.1 .667 151.3 1.241 140.2 383.96 159.4 152.9 138.4
Annual 3.45 142.3 23.95 162.6 32.54 132.0 142.1 .718 162.9 1.219 137.8 406.02 158.5 159.5 149.8
2004: First quarter 2.97 122.4 25.78 174.9 33.61 136.4 149.0 .677 153.5 1.140 128.8 370.83 153.9 147.2 144.3
Second quarter 3.32 136.9 30.60 207.7 35.54 144.2 165.0 .786 178.3 2.455 277.4 402.69 167.2 198.2 175.4
Third quarter 3.33 137.5 23.39 158.8 38.14 154.7 156.1 .828 187.9 1.135 128.2 253.35 105.2 125.4 139.8
Fourth quarter 3.58 147.6 29.69 201.6 40.60 164.7 176.8 .941 213.4 1.419 160.4 365.14 151.6 164.5 166.9
Annual 3.29 135.7 26.97 183.1 36.97 149.9 160.8 .815 184.8 1.521 171.9 331.49 137.6 154.7 154.4

Annual Price Trends

1987 Base

Annual Price Trends Graph of Composite Index versus Years from 1993 to 2003. Data from above table

Quarterly Price Trends

1987 Base

Annual Price Trends Graph of Composite Index versus Quarter from 2000 to 2004. Data from above table


Price Trends for Federal-aid Highway

Construction Rural and Urban

1987 Base1
Year Common excavation Portland cement concrete surface 2 Bituminous concrete surface Surfacing
Average contract price (cu. yd.) Index Average contract price (sq. yd.) Index Average contract price (ton) Index Index
Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
19722 .65 1.01 26.8 41.7 5.96 7.39 40.5 50.2 8.63 10.84 35.0 44.0 36.8 46.0
1973 .72 1.07 29.7 44.1 6.42 8.01 43.6 54.4 9.25 11.70 37.5 47.5 39.5 49.7
1974 .87 1.35 35.9 55.7 8.08 10.55 54.9 71.6 13.53 17.43 54.9 70.7 54.9 71.0
1975 .91 1.51 37.5 62.3 8.16 10.39 55.4 70.5 14.47 17.03 58.7 69.1 57.6 69.6
1976 .93 1.40 38.4 57.7 8.18 10.31 55.5 70.0 14.04 16.85 57.0 68.4 56.5 68.9
1977 1.09 1.46 45.0 60.2 8.83 11.52 59.9 78.2 14.84 17.71 60.2 71.9 60.1 73.9
1978 1.42 1.83 58.6 75.5 10.06 13.78 68.3 93.5 16.47 18.74 66.8 76.0 67.3 81.8
1979 1.45 2.15 59.8 88.7 12.33 16.59 83.7 112.6 20.15 24.37 81.8 98.9 82.4 103.4
1980 1.67 2.25 68.9 92.8 13.89 16.57 94.3 112.5 24.26 27.97 98.4 113.5 97.1 113.2
1981 1.55 2.27 63.9 93.6 13.02 15.32 88.4 104.0 24.63 26.68 99.9 108.2 96.1 106.9
1982 1.48 1.74 61.0 71.8 11.86 14.27 80.5 96.9 23.46 26.41 95.2 107.2 90.4 103.8
1983 1.59 2.10 65.6 86.6 11.83 14.58 80.3 99.0 23.46 26.72 95.2 108.4 90.3 105.3
1984 1.66 2.50 68.5 103.1 12.55 15.77 85.2 107.1 25.58 28.84 103.8 117.0 97.7 113.7
1985 1.85 3.20 76.3 132.0 13.29 15.67 90.2 106.4 27.51 30.89 111.6 125.3 104.6 119.1
1986 1.88 2.95 77.5 121.7 13.63 17.86 92.5 121.2 24.69 30.21 100.2 122.6 97.7 122.1
1987 1.91 3.37 78.8 139.0 13.37 17.06 90.8 115.8 23.39 27.81 94.9 112.8 93.5 113.8
1988 2.00 3.72 82.5 153.4 13.39 15.62 90.9 106.0 23.58 28.14 95.7 114.2 94.1 111.5
1989 2.01 3.20 82.9 132.0 13.56 16.67 92.0 113.2 22.17 28.66 89.9 116.3 90.6 115.3
1990 1.98 3.27 81.6 134.9 14.50 17.43 98.5 118.3 23.20 27.84 94.1 113.0 95.5 114.7
1991 1.98 2.89 81.6 119.2 16.02 17.08 108.8 115.9 24.51 27.63 99.4 112.1 102.5 113.4
1992 1.88 2.91 77.7 120.2 15.97 19.99 108.4 135.7 23.97 26.38 97.3 107.0 100.9 116.4
1993 2.16 3.57 89.2 147.3 18.41 19.50 124.9 132.3 25.86 27.20 104.9 110.4 111.5 117.6
1994 2.20 3.58 90.6 147.8 19.45 22.00 132.0 149.3 26.26 30.89 106.5 125.3 114.9 133.2
1995 2.36 3.94 97.3 162.5 20.63 23.52 140.0 159.6 26.96 32.04 109.4 130.0 119.4 139.7
1996 2.67 3.68 110.3 151.9 19.49 19.76 132.3 134.1 27.31 27.84 110.8 112.9 117.8 119.9
1997 2.47 3.96 102.1 163.4 21.50 27.14 145.9 184.2 27.71 33.48 112.4 135.8 123.4 151.7
1998 2.63 4.51 108.4 186.1 23.14 24.34 157.1 165.2 23.86 28.09 96.8 113.9 116.6 130.8
1999 2.51 4.35 103.7 179.3 23.79 23.05 161.5 156.5 31.44 34.71 127.6 140.8 138.7 145.9
2000 2.67 4.52 110.2 186.2 24.54 27.55 166.6 187.0 34.33 37.82 139.3 153.4 148.2 164.5
2001: First quarter 3.46 5.28 142.7 217.7 29.22 31.47 198.3 213.6 33.71 40.10 136.7 162.7 156.9 179.4
Second quarter 2.61 5.19 107.5 213.9 16.97 25.39 114.2 172.4 32.40 39.64 131.4 160.8 126.1 164.6
Third quarter 2.12 3.81 87.5 157.0 23.770 35.50 160.9 241.0 35.17 36.72 142.7 148.9 148.6 179.2
Fourth quarter 2.87 5.53 118.3 228.2 28.80 29.52 195.5 200.4 34.13 40.41 138.5 163.9 157.2 175.9
Annual 2.62 4.93 107.9 203.5 25.59 32.60 173.7 221.3 33.51 39.42 135.9 159.9 148.3 180.1
2002: First quarter 2.71 4.84 111.8 199.6 21.77 33.50 147.8 227.4 28.54 39.10 115.8 158.6 126.3 181.2
Second quarter  2.47 5.17 101.8 213.1 41.43 30.23 281.2 205.2 34.05 38.92 138.1 157.9 185.1 173.4
Third quarter 2.65 4.02 109.1 165.8 19.67 29.31 133.5 198.9 33.73 36.75 136.9 149.1 135.8 165.5
Fourth quarter 2.08 5.72 85.6 235.8 24.60 40.54 167.0 275.2 31.12 35.64 126.3 144.6 139.7 187.5
Annual 2.49 4.80 102.7 197.9 22.48 31.73 152.6 215.4 31.78 37.43 128.9 151.9 136.7 172.7
2003: First quarter 4.62 6.59 190.7 271.6 18.13 31.41 123.1 213.2 33.62 31.86 136.4 129.3 132.0 156.8
Second quarter 2.63 6.93 108.3 285.7 20.57 29.86 139.6 202.7 33.41 41.62 135.6 168.8 136.9 179.9
Third quarter 3.17 5.19 130.9 213.9 29.13 27.58 197.8 187.2 32.45 43.61 131.7 176.9 153.4 180.3
Fourth quarter 2.38 2.74 98.1 113.2 21.19 20.82 143.9 141.3 34.05 41.78 138.1 169.5 140.0 160.2
Annual 2.82 4.92 116.3 203.0 20.97 27.18 142.4 184.5 33.44 39.19 135.7 158.9 137.9 167.4
2004: First quarter 2.46 5.02 101.4 206.8 23.73 28.05 161.1 190.4 33.08 34.66 134.2 140.6 143.1 156.9
Second quarter 3.10 4.15 127.8 170.9 28.79 32.40 195.4 219.9 32.81 43.61 133.1 176.9 153.6 191.1
Third quarter 2.67 6.26 110.8 258.2 17.54 43.68 119.1 296.5 35.27 43.51 143.1 176.5 135.2 215.9
Fourth quarter 3.13 4.88 129.0 201.4 26.78 32.57 181.8 221.1 38.24 47.27 155.1 191.8 163.9 201.4
Annual 2.82 5.06 116.5 208.7 22.46 33.85 152.5 229.8 34.74 41.91 140.9 170.0 144.7 189.6

1 Base for composite index, 1987, involves 210,078,000 cubic yards of roadway excavation, 30,893,690 square yards of portland cement concrete surfacing with an average thickness of 9 inches, 37,760,443 tons of bituminous concrete surfacing, 577,753,544 pounds of reinforcing steel for structures, 444,924,141 pounds of structural steel and 3,498,333 cubic yards of structural concrete.

2 Starting with 1972, prices for portland cement concrete surfacing reflect adjustments to a standard 9″ thickness in each State. Prices do not include costs for reinforcing steel and joints.

Price Trends for Federal-aid Highway

Construction Rural and Urban

Continued
Year Structural reinforcing steel Structural steel Structural concrete Structures Composite
Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index Index Index Ratio of urban prices to rural prices
Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban
(1) (16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32)
19722 .178 .182 40.4 41.3 .333 .346 37.6 39.1 100.68 99.66 41.8 41.4 40.5 40.8 36.9 43.0 1.17
1973 .204 .208 46.3 47.2 .391 .355 44.2 40.1 111.48 112.07 46.3 46.5 45.7 45.0 40.8 46.8 1.15
1974 .339 .340 76.9 77.1 .508 .573 57.4 64.7 138.76 135.35 57.6 56.2 60.9 62.0 54.7 64.8 1.18
1975 .287 .307 65.1 65.1 .523 .582 59.1 65.8 135.00 143.27 56.1 59.5 58.4 62.1 54.9 65.2 1.19
1976 .269 .248 61.0 56.3 .478 .488 54.0 55.1 141.20 138.08 58.6 57.3 57.8 56.6 54.4 61.8 1.14
1977 .274 .270 62.2 61.3 .523 .517 59.1 58.4 145.33 141.68 60.3 58.8 60.3 59.1 57.9 65.4 1.13
1978 .323 .309 73.3 70.1 .586 .615 66.2 69.5 173.49 171.30 72.0 71.1 70.7 70.5 67.5 75.9 1.12
1979 .416 .425 94.4 96.4 .768 .753 86.8 85.1 219.07 205.25 91.0 85.2 90.4 87.1 82.5 94.0 1.14
1980 .463 .498 105.1 113.0 .777 1.012 87.8 114.3 241.38 217.76 100.2 90.4 97.8 100.6 93.1 104.6 1.12
1981 .440 .436 99.8 98.9 .773 .800 87.3 90.4 254.71 216.49 105.8 89.9 99.9 91.6 92.9 98.1 1.06
1982 .414 .403 93.9 91.4 .705 .778 79.7 87.9 237.52 210.03 98.6 87.2 92.8 88.1 87.0 92.1 1.06
1983 .391 .402 88.7 91.2 .672 .731 75.9 82.6 217.00 211.84 90.1 88.0 86.1 87.1 84.7 94.5 1.11
1984 .408 .409 92.6 92.8 .667 .724 75.4 81.8 226.17 213.60 93.9 88.7 88.8 87.6 89.4 100.6 1.13
1985 .441 .446 100.1 101.2 .794 .797 89.7 90.1 240.45 245.36 99.8 101.9 97.2 98.6 97.1 112.0 1.15
1986 .448 .440 101.7 99.8 .832 .856 94.0 96.7 260.72 228.50 108.3 94.9 103.4 96.2 97.1 110.7 1.14
1987 .456 .436 103.5 98.9 .848 .900 95.8 101.7 258.21 234.95 107.2 97.6 103.6 98.9 95.7 111.0 1.16
1988 .481 .498 109.1 113.0 .890 .932 100.6 105.3 262.23 278.33 108.9 115.6 106.7 112.4 97.9 118.2 1.21
1989 .495 .576 112.3 130.7 .994 1.026 112.3 115.9 273.78 286.88 113.7 119.1 113.1 120.3 99.4 120.0 1.21
1990 .580 .510 131.6 115.7 .934 1.04 105.6 117.5 297.22 281.33 123.4 116.8 120.1 116.8 104.3 118.7 1.14
1991 .492 .510 111.5 115.7 .939 1.06 106.1 119.8 276.49 259.65 114.8 107.8 111.9 112.3 103.5 113.8 1.10
1992 .482 .530 109.5 120.9 .879 .94 99.3 106.0 281.19 250.79 116.8 104.1 110.9 107.5 101.8 113.1 1.11
1993 .492 .453 111.6 102.7 .859 .863 97.1 97.5 259.52 263.29 107.7 109.3 105.6 105.0 105.5 116.5 1.10
1994 .501 .520 113.7 118.0 .843 .849 95.3 95.9 276.76 269.93 114.9 112.1 109.5 108.8 108.9 124.6 1.14
1995 .503 .561 114.1 127.4 .853 .973 96.3 109.9 272.76 321.85 113.2 133.6 108.9 126.3 111.5 137.2 1.23
1996 .564 .519 127.9 117.7 1.047 1.084 118.3 122.5 301.57 288.80 125.2 119.9 123.9 120.2 119.4 124.9 1.05
1997 .568 .566 128.9 128.5 1.075 1.227 121.5 138.6 307.58 329.17 127.7 136.7 126.3 135.8 121.5 146.5 1.21
1998 .559 .533 126.8 121.0 1.061 1.144 119.9 129.3 354.92 321.48 147.4 133.5 136.6 130.2 124.2 138.9 1.11
1999 .525 .572 119.0 129.9 1.204 1.236 136.0 139.7 325.11 354.40 134.9 147.2 132.5 142.2 130.7 149.3 1.14
2000 .471 .630 106.8 143.0 1.145 1.452 129.4 164.0 365.55 362.09 151.8 150.4 138.2 152.7 138.1 162.6 1.18
2001: First quarter .562 .589 127.5 133.6 1.211 1.530 136.9 172.9 289.92 313.95 120.4 130.4 125.9 142.1 141.2 168.8 1.19
Second quarter  .505 .574 114.6 130.2 .860 1.129 97.2 127.6 302.46 363.02 125.6 150.7 116.2 141.1 118.9 161.7 1.35
Third quarter .571 .521 129.6 118.2 1.162 1.201 131.3 135.7 349.05 338.55 144.9 140.6 138.7 135.5 135.1 156.6 1.16
Fourth quarter .610 .864 138.3 196.0 1.213 1.137 137.1 128.4 383.19 402.57 159.1 167.2 149.7 161.9 148.1 177.6 1.19
Annual .566 .633 128.5 143.7 1.110 1.259 125.4 142.3 326.80 350.77 135.7 145.7 131.8 144.4 134.9 167.9 1.24
2002: First quarter .618 .618 140.2 140.2 1.009 1.919 114.0 216.9 401.98 391.65 166.9 162.6 148.4 173.1 133.8 180.4 1.34
Second quarter  .623 .641 141.4 145.4 1.608 1.349 181.7 152.4 379.63 410.93 157.6 170.6 161.2 161.5 162.1 174.2 1.07
Third quarter 610 .546 138.4 123.9 1.420 1.264 160.5 142.8 425.74 337.19 176.8 140.0 165.9 138.0 145.0 153.4 1.05
Fourth quarter .530 .702 120.3 159.2 1.076 .886 121.5 100.1 349.52 312.47 145.1 129.7 134.7 126.9 129.3 168.1 1.30
Annual .595 .614 134.9 139.2 1.205 1.498 136.1 169.3 389.29 357.51 161.6 148.5 150.3 152.4 137.6 167.6 1.21
2003: First quarter .560 .693 127.2 157.2 1.070 1.206 120.9 136.2 418.85 446.12 173.9 185.2 151.9 167.5 149.6 178.8 1.20
Second quarter .610 .886 138.3 201.1 .967 1.317 109.2 148.8 366.62 456.83 152.2 189.7 138.5 180.9 133.3 196.3 1.47
Third quarter .697 .583 158.1 132.2 .911 1.061 102.9 119.8 397.49 352.72 165.1 146.5 147.5 137.0 147.4 166.3 1.13
Fourth quarter .676 .620 153.4 140.8 1.140 1.167 128.8 131.8 425.35 346.84 176.6 144.0 160.0 140.2 142.5 144.4 1.01
Annual .637 .747 144.6 169.4 1.037 1.238 117.1 139.8 401.80 412.66 166.8 171.3 149.9 162.7 139.9 170.7 1.22
2004: First quarter .684 .672 155.3 152.6 1.077 1.146 121.7 129.5 307.21 406.12 127.6 168.6 130.8 155.5 131.4 163.8 1.25
Second quarter .698 .865 158.3 196.4 1.578 2.954 178.2 333.8 393.51 396.09 163.4 164.5 166.5 214.6 155.4 198.4 1.28
Third quarter .828 .828 187.9 187.9 1.102 1.145 124.6 129.4 153.03 443.29 63.5 184.1 100.9 170.3 116.3 202.2 1.74
Fourth quarter .903 .967 204.9 219.3 1.307 1.529 147.7 172.8 324.48 388.02 134.7 161.1 150.1 174.1 152.6 189.4 1.24
Annual .780 .840 177.0 190.6 1.307 1.583 147.6 178.8 247.60 408.67 102.8 169.7 127.3 175.7 132.8 186.3 1.40

Price Trends for Federal-Aid Highway Construction

1987 Base1

Three-Quarter Moving Index

Year Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete 2 Bituminous concrete   Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Surfacing index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
1986 2.31 95.3 15.84 107.5 25.70 104.3 105.3 .440 99.8 .855 96.6 232.34 96.5 97.1 100.2
1987 2.59 106.8 15.20 103.2 25.44 103.2 103.2 .451 102.3 .877 99.1 258.33 107.3 104.3 104.2
1988 2.56 105.6 14.81 100.5 24.83 100.7 100.7 .534 121.2 .989 111.7 283.00 117.5 116.6 108.4
1989 2.68 110.6 16.20 110.0 24.73 100.3 103.5 .557 126.4 1.004 113.4 280.61 116.5 117.4 110.7
1990 2.24 92.3 16.24 110.2 25.88 105.0 106.7 .532 120.7 1.076 121.6 292.29 121.4 123.4 111.0
1991 2.32 95.7 17.18 116.7 24.54 99.6 105.2 .475 107.7 .919 103.9 244.71 101.6 103.2 102.9
1992 2.30 94.8 18.07 122.6 24.71 100.2 107.6 .538 122.0 .908 102.6 249.85 103.8 106.5 105.2
1993 2.55 105.1 19.43 131.9 27.28 110.7 117.6 .483 109.5 .812 91.7 257.48 106.9 103.4 109.5
1994 2.80 115.6 28.77 195.3 28.15 114.2 140.8 .534 121.2 .913 103.2 297.77 123.6 117.8 126.9
1995 2.83 116.7 22.01 149.4 28.88 117.2 127.8 .522 118.5 .969 109.5 303.10 126.1 120.4 122.9
1996 2.85 117.5 21.28 144.5 29.21 118.5 127.0 .558 126.5 1.118 126.3 306.70 127.4 126.9 125.6
1997 2.82 116.2 24.51 166.4 23.56 95.6 118.8 .586 132.9 1.207 136.3 316.75 131.5 133.0 124.7
1998: First quarter 2.85 116.6 23.83 161.7 23.84 96.71 118.1 .573 130.0 1.177 132.9 323.75 134.4 133.3 124.6
Second quarter  3.10 127.7 23.19 157.4 24.76 100.4 119.2 .533 120.9 1.110 125.4 330.77 137.3 131.4 125.8
Third quarter 3.02 124.6 23.75 161.2 28.85 117.0 131.5 .512 116.1 1.093 123.5 337.68 140.2 131.7 130.6
Fourth quarter 2.95 121.7 23.55 159.9 29.43 119.4 132.7 .521 118.1 1.180 133.3 346.25 143.8 136.6 132.8
1999: First quarter 2.88 118.7 24.82 168.5 29.65 120.3 136.1 .556 126.2 1.190 134.5 345.75 143.6 138.2 134.4
Second quarter 3.03 125.1 22.43 152.2 31.97 129.7 137.1 .552 125.2 1.195 135.1 332.71 138.2 135.1 134.4
Third quarter 3.01 124.2 24.16 163.9 33.04 134.1 143.9 .559 126.8 1.222 138.0 344.14 142.9 138.9 138.7
Fourth quarter 2.78 114.7 23.60 160.2 33.04 134.0 142.6 .573 130.1 1.175 132.7 351.75 146.1 139.8 137.2
2000: First quarter 2.88 118.6 25.49 173.0 34.13 138.5 149.8 .597 135.5 1.280 144.6 372.31 154.6 148.7 144.6
Second quarter 3.01 124.1 24.85 168.7 34.78 141.1 150.2 .533 120.9 1.291 145.9 364.08 151.2 144.6 143.8
Third quarter 3.15 128.9 25.50 173.1 36.01 146.1 154.9 .532 120.8 1.411 159.4 364.46 151.3 148.3 148.2
Fourth quarter 3.22 132.9 27.33 185.5 35.44 143.8 157.5 .516 117.1 1.418 160.2 330.04 137.0 139.8 145.9
2001: First quarter 3.35 138.3 26.18 177.7 35.21 142.9 154.3 .574 130.3 1.329 150.2 331.12 137.5 139.6 145.4
Second quarter 2.96 122.2 26.26 178.2 34.63 140.5 152.9 .557 126.3 1.211 136.9 322.72 134.0 133.5 139.7
Third quarter 2.90 119.5 27.51 186.8 34.82 141.3 156.2 .610 138.5 1.123 126.9 356.92 148.2 140.9 143.9
Fourth quarter 2.99 123.1 26.59 180.5 34.01 137.9 151.9 .631 143.2 1.417 160.1 379.60 157.6 155.8 149.3
2002: First quarter 3.09 127.5 27.38 185.9 34.12 138.4 154.0 .654 148.4 1.482 167.4 394.11 163.6 162.0 153.5
Second quarter 3.01 124.1 25.37 172.2 34.37 139.4 150.2 .607 137.8 1.539 173.4 387.86 161.1 160.5 150.8
Third quarter 2.90 119.5 26.79 181.8 36.15 142.6 155.5 .606 137.6 1.280 144.6 367.86 152.7 148.0 146.8
Fourth quarter 3.27 135.0 24.78 168.2 34.22 138.9 148.5 .610 138.5 1.210 136.7 376.77 156.4 148.2 146.3
2003:. First quarter 3.33 137.3 24.16 163.9 33.22 134.8 144.4 .727 164.9 1.195 135.0 396.54 164.6 156.9 148.8
Second quarter 3.81 157.2 25.27 171.5 32.85 133.3 145.8 .735 166.7 1.216 137.4 413.24 171.6 161.7 154.5
Third quarter 3.18 130.9 24.09 163.5 32.60 132.3 142.5 .733 166.3 1.230 138.9 398.13 165.5 158.7 147.9
Fourth quarter 3.07 126.7 24.42 165.8 32.31 131.1 142.5 .657 149.2 1.159 130.9 377.42 156.7 148.6 142.8
2004:. First quarter 2.97 122.7 25.60 173.8 33.67 136.6 148.8 .715 162.1 1.618 182.8 387.54 160.9 166.9 152.8
Second quarter 3.21 132.5 26.35 178.9 36.06 146.3 157.0 .774 175.6 1.539 173.9 322.40 133.9 151.6 150.9
Third quarter 3.40 140.1 27.22 184.8 37.82 153.4 163.7 .847 192.1 1.635 184.7 324.00 134.5 157.6 157.5
Fourth quarter                              

1 Base for composite index, 1987, involves 210,078,000 cubic yards of roadway excavation, 30,893,690 square yards of portland cement concrete surfacing with an average thickness of 9 inches, 37,760,443 tons of bituminous concrete surfacing, 577,753,544 pounds of reinforcing steel for structures, 444,924,141 pounds of structural steel and 3,498,333 cubic yards of structural concrete.

Price Trends for Federal-Aid Highway Construction

1987 Base 1

Year: 2004

State Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete 2 Bituminous concrete Surfacing index Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
Connecticut 9.79 144.67 0.00 0.00 51.67 110.84 110.84 1.034 185.21 1.620 138.85 547.87 150.86 151.33 135.59
Maine 8.26 160.69 0.00 0.00 40.40 143.07 143.07 1.073 202.84 1.155 155.40 682.46 307.76 247.22 169.67
Massachusetts 9.80 114.65 32.69 0.00 42.14 118.92 118.92 1.347 51.34 1.922 143.84 517.31 193.96 126.74 120.17
New Hampshire 5.46 184.47 29.58 0.00 41.38 137.37 137.37 0.872 172.35 1.135 164.84 538.62 387.50 264.91 200.13
New Jersey 8.40 77.03 0.00 0.00 47.06 142.80 142.80 0.973 107.04 1.959 164.00 330.23 97.60 124.51 108.60
New York 13.01 215.97 49.71 171.17 37.25 109.51 111.69 1.273 179.98 1.422 142.88 445.73 116.28 132.82 138.52
Rhode Island 7.43 235.14 25.86 89.18 46.20 143.40 143.20 0.859 147.30 1.410 173.49 559.47 130.59 139.30 151.74
Vermont 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Puerto Rico 4.24 138.19 0.00 0.00 67.97 172.97 172.97 0.755 184.36 0.000 0.00 479.58 278.82 248.09 190.59
Delaware 6.41 209.44 75.00 3040.00 39.75 130.66 318.08 0.758 131.71 1.121 124.05 415.03 165.57 142.81 232.54
Dist. of Columbia  35.00 124.51 0.00 0.00 54.60 67.29 67.29 0.000 0.00 0.000 0.00 0.00 0.00 0.00 87.10
Maryland 8.35 151.55 42.03 88.72 39.41 148.75 128.61 0.972 204.46 0.967 96.74 467.88 115.78 117.51 128.88
Pennsylvania 6.37 172.39 45.73 222.53 35.67 106.63 160.16 0.941 158.72 2.599 225.92 284.53 77.44 125.79 147.01
Virginia 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
West Virginia 2.67 42.27 0.00 0.00 37.49 143.73 143.73 1.118 195.01 1.321 106.87 577.54 134.60 127.38 107.82
Alabama 2.19 155.88 93.87 389.93 38.84 167.97 192.00 0.871 228.19 2.977 307.16 300.68 109.09 190.42 187.07
Florida 4.75 105.37 0.00 0.00 60.57 192.31 192.31 1.103 221.82 2.026 190.02 509.98 184.72 192.78 183.99
Georgia 3.76 204.07 43.74 256.33 40.73 144.78 161.28 0.771 199.19 1.799 231.68 487.66 180.61 192.32 177.99
Kentucky 10.90 413.52 32.40 181.10 45.32 175.77 178.27 0.841 166.19 0.000 0.00 322.08 118.39 129.75 214.14
Mississippi 5.53 487.69 49.02 210.37 41.95 162.83 171.26 0.645 185.27 0.000 0.00 324.94 143.96 152.32 233.43
North Carolina 3.18 177.60 32.76 208.14 33.84 127.78 142.66 0.524 124.19 1.073 131.18 369.35 152.77 140.92 149.42
South Carolina 5.43 145.73 0.00 0.00 50.27 187.35 187.35 1.020 265.69 0.000 0.00 450.11 210.09 225.72 203.32
Tennessee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Illinois 5.89 148.26 13.56 80.76 46.16 157.17 139.97 0.886 159.75 1.153 137.20 430.62 125.30 134.86 138.84
Indiana 10.29 458.09 34.45 256.53 40.98 174.62 215.91 0.753 137.59 1.232 172.52 404.39 132.40 144.01 197.42
Michigan 4.28 141.13 17.15 127.86 44.82 238.79 180.97 0.763 162.75 2.026 157.55 323.51 314.80 242.90 191.33
Minnesota 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Ohio 3.88 60.16 48.49 253.72 35.91 154.64 187.43 0.757 151.84 0.680 77.88 361.07 114.09 105.14 131.70
Wisconsin 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Arkansas 1.77 72.03 24.97 96.99 42.79 165.32 157.42 0.695 159.34 1.211 178.16 344.73 146.40 158.99 146.78
Louisiana 1.68 66.12 0.00 0.00 44.49 179.01 179.01 0.000 0.00 0.000 0.00 601.96 277.49 277.49 203.16
New Mexico 2.80 88.56 37.36 94.37 25.54 109.09 108.81 1.124 215.92 2.886 183.27 225.77 65.98 110.70 105.78
Oklahoma 2.61 128.79 27.43 210.15 28.16 114.37 149.42 0.697 168.13 1.274 175.05 269.80 126.31 146.87 147.02
Texas 3.31 117.62 30.83 223.95 43.00 142.27 190.84 0.000 0.00 0.720 105.38 492.79 225.69 187.94 183.05
Iowa 1.47 87.95 25.38 168.17 26.77 116.74 150.23 0.665 189.80 0.985 132.33 329.87 187.01 182.16 145.79
Kansas 3.11 102.56 24.77 152.35 32.60 140.60 149.91 0.738 154.75 1.095 13.44 93.47 46.50 47.00 90.54
Missouri 2.34 156.71 26.63 215.35 14.10 54.84 105.23 0.898 152.69 1.546 170.89 373.37 106.86 137.12 125.22
Nebraska 2.83 214.54 22.68 199.38 29.63 153.44 174.82 0.710 145.43 1.099 171.86 343.08 164.78 161.43 177.09
Colorado 4.30 202.36 31.59 253.34 37.85 164.96 181.50 0.844 204.39 2.699 304.99 330.92 159.95 205.43 194.61
Montana 2.91 167.74 38.29 305.90 27.63 165.25 185.03 0.913 184.25 4.554 733.10 436.89 149.93 221.30 183.58
North Dakota 2.27 274.76 34.24 300.11 27.52 148.03 215.06 0.804 172.04 0.000 0.00 416.61 196.31 191.23 218.78
South Dakota 1.18 134.71 24.35 185.08 36.56 205.07 196.66 0.853 183.55 1.106 132.94 388.57 173.13 175.07 183.62
Utah 4.39 269.84 28.62 269.08 31.55 144.14 193.99 0.947 226.60 1.346 196.05 312.06 150.43 181.30 205.71
Wyoming 2.73 191.57 29.51 227.79 30.97 179.85 197.29 0.831 162.86 1.288 194.84 370.11 117.20 147.06 191.04
Arizona 2.91 90.94 19.95 117.45 34.80 176.73 160.51 0.653 165.79 2.178 152.42 274.49 138.50 148.17 146.13
California 14.05 437.27 99.49 469.49 43.64 168.72 228.05 0.749 178.00 5.316 347.52 523.98 195.62 192.29 241.35
Hawaii 29.89 466.80 135.77 248.36 73.88 129.28 140.54 0.851 83.50 4.070 127.18 921.44 48.45 51.78 117.00
Nevada 11.51 374.95 0.00 0.00 38.24 155.24 155.24 1.660 372.37 0.000 0.00 612.30 295.08 314.55 230.61
Alaska 3.76 159.50 0.00 0.00 53.23 184.49 184.49 1.840 110.38 0.000 0.00 1777.25 2042.82 1937.79 200.38
Idaho 3.14 189.91 0.00 0.00 32.74 157.44 157.44 0.875 222.82 1.191 135.12 424.44 164.88 179.78 173.15
Oregon 7.82 215.16 56.88 951.59 31.56 129.11 303.95 0.755 146.10 1.001 66.11 128.82 43.99 67.17 192.32
Washington 8.97 233.79 0.00 0.00 45.60 180.52 180.52 0.864 216.81 0.000 0.00 436.36 225.35 222.83 213.94
United States 3.29 135.69 26.97 183.06 36.97 149.97 160.84 0.815 184.84 1.521 171.89 331.49 137.64 154.75 154.38

1 Indices are based on information submitted for Federal-aid construction contracts over $500,000. In some instances, individual State indices may not be truly representative of long-term price trends because of comparatively low volumes of work for the period reported, or because of unusual projects awarded during the period. Also, differences in bid item specifications among the States might account for some of the differences in unit prices in the various States.

The base for each State index is its own particular "market basket" of quantities and costs during the base period. The composite index for each State measures the change in that State's index since base year 1987. (In 1987 each State's index equalled 100.)

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