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TURNER PREDICTS MARGINAL RISE IN FOURTH QUARTER CONSTRUCTION COSTS

 NEW YORK, N.Y. Oct. 28 /PRNewswire/ -- Fourth quarter construction costs will increase marginally according to a forecast released today by The Turner Corporation (AMEX: TUR), the nation's leading general builder. According to the Turner Building Cost Index released today, the fourth quarter index will increase three points, from 461 to 464. This is up 0.66 percent over the third quarter of 1993 and represents a 2.4 percent increase form the fourth quarter of 1992.
 "With the building construction industry continuing along in the doldrums, escalation in building construction prices will generally track the basic underlying inflation rate for the balance of the year," said Frank Basius, the Turner senior vice president responsible for calculating the Turner Building Cost Index.
 Turner has made its quarterly forecast for more than 50 years. Used widely by the construction industry and the federal and state governments, the building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter. In fact, regional conditions often vary from composite trends.
 Based in New York City, The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the nation's leading builder of healthcare, institutional, retail, commercial, industrial, manufacturing, interiors, biotech/ pharmaceutical, research and development/laboratories, government building and multi-unit housing projects. Operating through more than 35 offices, Turner has construction projects underway throughout the United States and abroad. During 1992, The Turner Corporation completed $2.6 billion of construction.
 -0- 10/28/93
 /CONTACT: Beverly A. Benn of Turner, 212-229-6157/
 (TUR)


CO: The Turner Corporation ST: New York IN: CST SU: ECO

JS-TA -- NY093 -- 7966 10/28/93 13:19 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:279
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