National Average Price Per Gallon: $3.25
Motorists this Labor Day weekend paid the most expensive gas prices since 2014.
Prices were 20 cents higher than last year. But despite the holiday weekend price jump, prices were actually low compared to previous years.
“We’re talking about gas prices just a penny above the low point for the summer,” said GasBuddy analyst Patrick DeHaan. “If you rewind to 2011 or 2014, what we’re seeing today could look really good, with prices back then well over $3 a gallon.”
Framing lumber: $453
The framing lumber product price barely budged compared to the previous week (only rising by $2). Buyers remained cautious and seemed to question whether current prices represent “good values.”
Structural panel prices also remained largely unchanged versus the previous week (only rising by $1). Sales were lackadaisical leading up to the Labor Day holiday weekend.
U.S. factory activity rose to a 14-year high last month.
A surge of new orders are credited with the rise in activity. However, analysts are concerned that import tariffs could restrain further growth.
Meanwhile, spending in the construction industry barely budged in July, only rising by 0.1%. Despite increases in spending for both homebuilding and public projects, these gains were eroded by a lack of private nonresidential construction spending.