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Press Release 30/05/2016

CONSTRUCTION COSTS INDEX, APRIL 2016

Construction costs in the Basque Country fell 0.4% in April 2016 compared to the previous month

Compared to the previous year, April 2015, construction costs fell by 0.7%

There was a 0.4% fall in the Construction Costs Index in the Basque Country in April 2016 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.

There was no variation in labour costs (0.0%) with regards to the previous month, whereas raw material costs fell by 0.6%.

In April, the sub-sectors of Building and Civil Works showed opposite trends in the cost of their raw materials in relation to the previous month, with a drop of 0.6% in raw materials consumed in Building and a 0.5% increase in those consumed in Civil Works. The year-on-year performance of both sub-sectors was similar, though to a different degree. Building raw material costs fell by 0.6%, whereas those for Civil Works recorded a 4.4% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (April 2016 on April 2015) included those in the following sectors: Electrical Material, with an increase of 2.3%; the Timber Industry, which rose by 2.2%; and Non-Metal Industry, which rose by 0.9%. Conversely, 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 9.4%; and Electricity & Gas, down by 6.6%.

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