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Press Release 28/09/2015

CONSTRUCTION COSTS INDEX. AUGUST 2015

There was no variation in Construction costs in the Basque Country in August 2015 compared to the previous month

Compared to the previous year, August 2014, construction costs fell by 0.2%

Construction Costs in the Basque Country showed no variation (0.0%) in August 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.2%, according to data provided by EUSTAT.

With regards to the previous month, there was no change in labour costs (0.0%), and nor was there any change in raw material costs (0.0%).

In August, the subsectors of Building and Civil Works showed different trends in the cost of their raw materials in relation to the previous month, with a rise of 0.2% in Building and a fall of 0.7% in Civil Works. The year-on-year performance of the two sub-sectors was both positive and negative. Building raw material costs rose by 0.2%, whereas those for Civil Works recorded a 2.9% decrease.

The prices of raw materials consumed by the sector that recorded the biggest increases in their annual prices (August 2015 on August 2014) included those in the sectors of Electricity & Gas, which was up by 4.1%, and the Timber Industry, with a rise of 2.4%, and Non-Metallic Minerals, which rose by 1.1%. 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 25.5%; Chemical Industry, which fell by 2.4%; and Metallurgy, which was down by 2.0%.

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