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Press Release 27/03/2014

CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY (ICCE) FEBRUARY 2014

Construction costs in the Basque Country remained stable in February 2014 compared to the previous month

Compared to the previous year, February 2013, construction costs fell by 1.1%

Construction Costs in the Basque Country showed no variation, 0.0%, in February 2014 compared to the previous month, whilst the year-on-year rate for the same month fell by 1.1%, according to data provided by EUSTAT.

There was no variation in labour costs, 0.0%, with regards to the previous month, whereas raw material costs fell by 0.1%.

In February, the sub-sectors of Building and Civil Works showed a similar evolution in the cost of their raw materials in relation to the previous month, with a fall of 0.1% in Building and the cost of raw materials consumed in Civil Works remaining unchanged, 0.0%.

The year-on-year performance of both sub-sectors was negative. Building raw material costs fell by 1.7%, whereas those for Civil Works recorded a 2.8% decrease.

The prices of raw materials consumed, by sector that recorded the biggest increases in their annual prices (February 2014 on February 2013) included those in the following sectors: Timber Industry,1.6%, and Plastics & Rubber and the Chemical Industry which both rose by 0.4%. On the other hand, sectors that saw the biggest price reductions over the last twelve months in raw materials include the Oil Refining sector, which fell by 8.0%, Metallurgy, which was down 4.6%, and Non-Metallic Minerals which was down by 2.8%.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE. FEBRUARY 2014 (p)
Source: Eustat. Index of construction costs of the Basque Country