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Press Release 10/23/2015

CONSTRUCTION COSTS INDEX. SEPTEMBER 2015

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

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

There was a 0.3% fall in the Construction Costs Index in the Basque Country in September 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%), whereas raw material costs fell by 0.4%.

In August, the subsectors of Building and Civil Works posted negative trends in the cost of their raw materials in relation to the previous month, with a rise of 0.3% in Building and a fall of 0.7% in Civil Works. The year-on-year evolution of these two sub-sectors saw positive and negative variations: costs of raw materials in Building rose by 0.1%, whilst costs in Civil Works posted a 3.3% drop.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (September 2015 on September 2014) included those in the following sectors: Timber Industry, with an increase of 3.7%; Electricity & Gas, which rose by 2.2%; and Non-Metallic Minerals, 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 27.8%; Metallurgy, which fell by 3.0%; and Chemical Industry, which was down by 1.5%.