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Press Release 30/11/2015

CONSTRUCTION COSTS INDEX. OCTOBER 2015

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

Compared to the previous year, October 2014, construction costs fell by 0.7%

There was a 0.3% fall in the Construction Costs Index in the Basque Country in October 2015 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.7%, 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 October, 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. These two sub-sectors also saw negative year-on-year trends: costs of raw materials in Building fell by 0.5%, whilst costs in Civil Works posted a 3.7% drop.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (October 2015 on October 2014) included those in the following sectors: Timber Industry, with an increase of 2.9%; Electricity & Gas, which rose by 2.6%; and Rubber & Plastic, which rose by 0.7%. 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 25.2%; Metallurgy, which fell by 6.5%; and Chemical Industry, which was down by 2.2%.

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