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Press Release 27/02/2015

CONSTRUCTION COSTS INDEX, JANUARY 2015

Construction costs in the Basque Country rose 0.2% in January 2015 compared to the previous month

Compared to the previous year, January 2014, construction costs fell by 0.7%

There was a 0.2% rise in the Construction Costs Index in the Basque Country in January 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.7%, 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 rose by 0.3%.

In January, 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 rise of 0.4% in Building and a fall of 0.3% in raw materials consumed in Civil Works. The year-on-year performance of both sub-sectors was negative. Building raw material costs fell by 0.5%, whereas those for Civil Works recorded a 3.6% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (January 2015 on January 2014) included those in the following sectors: Electronic Material, with an increase of 1.8%; the Timber Industry, which rose by 1.6%; and Metallurgy which rose by 1.2%. 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 28.6%; Chemical Industry, which fell by 2.5%; and Plastic & Rubber, which was down by 1.4%.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE (p). JANUARY 2015
Source: Eustat. Index of construction costs of the Basque Country