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THIRD QUARTER CONSTRUCTION COSTS TO SHOW MODERATE INCREASE ACCORDING TO TURNER COST FORECAST

 THIRD QUARTER CONSTRUCTION COSTS TO SHOW MODERATE INCREASE
 ACCORDING TO TURNER COST FORECAST
 NEW YORK, July 29 /PRNewswire/ -- Construction costs are expected to show a moderate increase in the third quarter, 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 third quarter index will increase two points, from 448 to 450. The predicted 0.4 percent rise represents the first increase in construction costs since the first quarter of 1991.
 "Contractor prices have been squeezed about as tight as they can be and I would expect to see some moderate increases during the next quarter," remarked Frank Basius, the Turner group 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 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 commercial, industrial, hospital and healthcare, institutional, 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 1991, the Turner Corporation completed $2.7 billion of construction.
 -0- 7/29/92
 /CONTACT: Beverly A. Benn of Turner, 212-229-6157/
 (TUR) CO: Turner Corporation ST: New York IN: CST SU: ECO


TS-OS -- NY024 -- 4476 07/29/92 09:53 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
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