Press Release 02/09/2016

CONSTRUCTION COSTS INDEX, JULY 2016

Construction costs in the Basque Country fell 0.3% in July 2016 in relation to the previous month

Compared to the previous year, July 2015, construction costs fell by 1.0%

There was a 0.3% drop in Construction Costs in the Basque Country in July 2016 compared to the previous month, whilst the year-on-year rate for the same month fell by 1.0%, 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 0.4%.

In July, the sub-sectors of Building and Civil Works showed a negative trend with the same magnitude in the cost of their raw materials in relation to the previous month. The cost of raw materials consumed by both Civil Works and Building fell by 0.4%. The year-on-year performance of both sub-sectors was negative, though also with notable differences in degree. Building raw material costs fell by 1.2%, whereas those for Civil Works recorded a 3.4% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (July 2016 on July 2015) included those in the following sectors: Electrical Material, with an increase of 2.7%; the Timber Industry, which rose by 1.4%; and Machinery, which rose by 0.5%. 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 18.3%; Metallurgy, which fell by 6.2%; and Plastic & Rubber, which was down by 4.3%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62 Further press releases on the Construction Costs Index of the Basque Country (ICCE) Databank on Construction Costs Index of the Basque Country (ICCE)