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Press Release 26/05/2015

CONSTRUCTION COSTS INDEX. APRIL 2015

Construction costs in the Basque Country fell 0.2% in April 2015 compared to the previous month

Compared to the previous year, April 2014, construction costs fell by 1.2%

There was a 0.2% fall in the Construction Costs Index in the Basque Country in April 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 1.2%, 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 0.2%.

In April, the sub-sectors of Building and Civil Works showed a different trend in the cost of their raw materials in relation to the previous month, with a fall of 0.2% in Building, whereas raw materials consumed in Civil Works saw no noticeable change, 0.0%. The year-on-year performance of both sub-sectors was similar, though to a different degree. Building raw material costs fell by 1.3%, whereas those for Civil Works recorded a 3.0% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (April 2015 on April 2014) included those in the following sectors: Electricity & Gas, with an increase of 4.4%; the Timber Industry, which rose by 2.2%; and Manufacture of Furniture, which rose by 1.0%. 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 16.6%; Non-Metallic Minerals, which fell by 2.7%; and Chemical Industry, which was down by 1.6%.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE (p). APRIL 2015
Source: Eustat. Construction costs index