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Press Release 22/12/2015

CONSTRUCTION COSTS INDEX. NOVEMBER 2015

Construction costs in the Basque Country rose by 0.1% in November 2015 compared to the previous month

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

There was a 0.1% rise in Construction Costs in the Basque Country in November 2015 compared to the previous month, whilst the year-on-year rate for the same month rose 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 rose by 0.1%.

In November, the Building sub-sector showed a positive variation in the cost of its raw materials in relation to the previous month, with an increase of 0.2%, while the Civil Works sub-sector saw no change (0.0%). 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 2.8% drop.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (November 2015 on November 2014) included those in the following sectors: Timber Industry, with an increase of 3.6%; Non-Metallic Minerals, which rose by 1.4%; and Electricity & Gas, which rose by 1.3%. 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 22.8%; Metallurgy, which fell by 6.8%; and Electronic Material, which was down by 1.1%.

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