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Press Release 27/07/2015

CONSTRUCTION COSTS INDEX. JUNE 2015

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

Compared to the previous year, June 2014, construction costs fell by 1.1%

There was a 0.3% fall in the Construction Costs Index in the Basque Country in June 2015 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.

With regards to the previous month, there was no change in labour costs (0.0%), whereas raw material costs fell by 0.3%.

In June, the subsectors of Building and Civil Works both saw a positive variation in the cost of their raw materials in relation to the previous month, with a fall of 0.3% in Building and 0.5% in Civil Works. The year-on-year performance of both sub-sectors was also negative, though to a different degree. Building raw material costs fell by 1.2%, whereas those for Civil Works recorded a 3.1% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (June 2015 on June 2014) included those in the following sectors: Timber Industry, with an increase of 2.0%; the Manufacture of Furniture, which rose by 1.1%; and Metal Products, which 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 sectors of Oil Refining, with a decrease of 17.5%, and Chemical Industry, Non-Metal Industry and Non-Metallic Minerals, all of which were down by 1.7%.

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