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Press Release 24/03/2015

CONSTRUCTION COSTS INDEX. FEBRUARY 2015

Construction costs in the Basque Country fell 0.3% in February 2015 compared to the previous month

Compared to the previous year, February 2014, construction costs fell by 1.0%

There was a 0.3% fall in the Construction Costs Index in the Basque Country in February 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 1.0%, according to data provided by EUSTAT.

With regards to the previous month, there was no change in labour costs (0.0%), whereas raw material costs fell by 0.4%.

In February, the sub-sectors of Building and Civil Works showed diverging trends in the cost of their raw materials in relation to the previous month, with a drop of 0.5% in Building and a drop of 0.2% in raw materials consumed in Civil Works. The year-on-year performance of both sub-sectors was negative. Building raw material costs fell by 0.9%, whereas those for Civil Works recorded a 3.5% decrease.

The prices of raw materials consumed by the sector that recorded the biggest increases in their annual prices (February 2015 on February 2014) included those in the sectors of the Timber Industry, which was up by 1.6%; Electrical Material, with a rise of 1.0%; and Electricity & Gas, which rose by 0.8%. On the other hand, sectors that saw the biggest price reductions over the last twelve months in raw materials include the sectors of Oil Refining, with a decrease of 22.6%; Chemical Industry, which fell by 2.8%; and Non-Metallic Minerals, which was down by 2.0%.