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Press Release 26/07/2016

CONSTRUCTION COSTS INDEX, JUNE 2016

Construction costs in the Basque Country rose 0.1% in June 2016 compared to the previous month

Compared to the previous year, June 2015, construction costs fell by 0.3%

There was a 0.1% rise in Construction Costs in the Basque Country in June 2016 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.3%, according to EUSTAT data.

There was no variation in labour costs (0.0%) with regards to the previous month, whereas raw material costs rose by 0.2%.

In June, the sub-sectors of Building and Civil Works showed positive trends, though to varying degrees, in the cost of their raw materials in relation to the previous month, with a rise of 0.5% in the cost of raw materials consumed by Civil Works, whereas the amount consumed by Building rose by 0.1%. The year-on-year performance of both sub-sectors was negative, though also with notable differences in degree. Building raw material costs fell by 0.3%, whereas those for Civil Works recorded a 3.0% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (June 2016 on June 2015) included those in the following sectors: Electrical Material, with an increase of 2.6%; the Timber Industry, which rose by 2.1%; and Machinery, which rose by 0.6%. 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 19.9%; Metallurgy, which fell by 6.9%; and Electricity & Gas, down by 4.7%.

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