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Press Release 30/03/2016

CONSTRUCTION COSTS INDEX, FEBRUARY 2016

Construction costs in the Basque Country fell 0.5% in February 2016 compared to the previous month

Compared to the previous year, February 2015, there was no variation in construction costs (0.0%)

There was a 0.5% fall in Construction Costs in the Basque Country in February 2016 compared to the previous month, whilst the year-on-year rate for the same month remained unchanged (0.0%), according to data provided by EUSTAT.

There was no variation in labour costs (0.0%) with regards to the previous month, whereas raw material costs fell by 0.7%.

In February, the sub-sectors of Building and Civil Works showed a similar evolution in the cost of their raw materials in relation to the previous month, with drops of 0.7% in Building and 0.6% in raw materials consumed in Civil Works. In year-on-year terms both sub-sectors showed different variations. Building raw material costs rose by 0.2%, whereas those for Civil Works recorded a 3.3% decrease.

The prices of raw materials consumed by the sector that recorded the biggest increases in their annual prices (February 2016 on February 2015) included those in the sectors of the Timber Industry, which was up by 1.9%; Electrical Material, also with a rise of 1.9%; and Non-Metal Industry, which rose by 1.5%. 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 28.0%; Metallurgy, which fell by 9.0%; and Electricity & Gas, which was down by 1.5%.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE (p). FEBRUARY 2016
Source: Eustat. Construction costs index