Press Release 12/22/2016

CONSTRUCTION COSTS INDEX, NOVEMBER 2016

Construction costs in the Basque Country fell by 0.3% in November 2016 compared to the previous month

Compared to the previous year, November 2015, construction costs rose by 0.3%

There was a 0.3% drop in Construction Costs in the Basque Country in November 2016 compared to the previous month, whilst the year-on-year rate for the same month rose by 0.3%, 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 November, the sub-sectors of Building and Civil Works showed diverging trends and a different magnitude in the cost of their raw materials in relation to the previous month. There was a 0.4% rise in the cost of the raw materials consumed by both Civil Works and Building. In year-on-year terms both sub-sectors showed positive variations. Building raw material costs rose by 0.1%, and those for Civil Works recorded a 0.4% increase.

The raw materials used by the construction sector that recorded the biggest increases in their annual prices (November 2016 on November 2015) included those in the following sectors: Oil Refining, with an increase of 4.7%; the Timber Industry, which rose by 1.9%; and Electrical Material, which rose by 1.8%. In contrast, the sectors that saw the biggest price reductions over the last twelve months included Plastic & Rubber, which fell by 4.3%; Electricity & Gas, down by 3.7%, and Metallurgy, which posted a 1.5% decrease.

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)