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Press Release 29/09/2016

CONSTRUCTION COSTS INDEX, AUGUST 2016

Construction costs in the Basque Country rose 0.3% in August 2016 compared to the previous month

Compared to the previous year, August 2015, construction costs fell by 0.6%

There was a 0.3% rise in Construction Costs in the Basque Country in August 2016 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.6%, 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 0.5%.

In August, the sub-sectors of Building and Civil Works showed diverging trends and a slight variation in magnitude in the cost of their raw materials in relation to the previous month. There was a 0.5% rise in the cost of the raw materials consumed by Civil Works and a 0.4% rise in those consumed by Building. The year-on-year performance of both sub-sectors was negative, though also with notable differences in degree. Building raw material costs fell by 0.9%, whereas those for Civil Works recorded a 2.4% decrease.

The raw materials used by the construction sector that recorded the biggest increases in their annual prices (August 2016 on August 2015) included those in the following sectors: Electrical Material, with an increase of 2.8%; the Timber Industry, which rose by 2.1%; and Machinery, which rose by 0.2%. On the other hand, the sectors that saw the biggest price reductions over the last twelve months included the sectors of Electricity & Gas, which fell by 10.6%; Oil Refining, which fell by 10.1%, and Metallurgy, which was down by 6.6%.

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