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Press Release 30/04/2015

CONSTRUCTION COSTS INDEX. MARCH 2015

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

Compared to the previous year, March 2014, construction costs fell by 0.5%

There was a 0.2% rise in the Construction Costs Index in the Basque Country in March 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.5%, 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 March, the sub-sectors of Building and Civil Works showed similar trends in the cost of their raw materials in relation to the previous month, with a rise of 0.2% in Building and an increase of 0.6% in raw materials consumed in Civil Works. The year-on-year performance of both sub-sectors was also similar, though to a different degree. Building raw material costs fell by 0.4%, whereas those for Civil Works recorded a 2.5% decrease.

The prices of raw materials consumed by the sector that recorded the biggest increases in their annual prices (March 2015 on March 2014) included those in the sectors of the Timber Industry, which was up by 2.1%; Non-Metal Industry, with a rise of 0.9%; 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 18.0%; Chemical Industry, which fell by 2.1%; and Plastic & Rubber, which was down by 1.3%.

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