RSMeans’ Construction Cost Index (CCI) for the nation as a whole declined 2.4% on an annualized basis from October 2008 to January 2009. The materials sub-component index declined 6.5%, while the installation sub-index (which is basically labor) increased 3.6%. The tables that accompany this report set out the latest CCI results for 50 of the largest cities in the United States. What is particularly interesting is to compare construction cost changes with other measures on economic activity levels in the same urban centers.