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Press Release 11/29/2016

CONSTRUCTION COSTS INDEX, OCTOBER 2016

Construction costs in the Basque Country rose 0.4% in October 2016 compared to the previous month

Compared to the previous year, October 2015, construction costs rose by 0.6%

There was a 0.4% rise in Construction Costs in the Basque Country in September 2016 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.2%, 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 September, the sub-sectors of Building and Civil Works showed diverging trends and a slight difference in magnitude in the cost of their raw materials in relation to the previous month. There was a 0.7% rise in the cost of the raw materials consumed by Civil Works and a 0.5% 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 0.4%, whereas those for Civil Works recorded a 1.1% decrease.

The raw materials used by the construction sector that recorded the biggest increases in their annual prices (September 2016 on September 2015) included those in the following sectors: Electrical Material, with an increase of 2.5%; the Timber Industry, which rose by 1.1%; and Machinery, which rose by 0.3%. 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 9.5%; Metallurgy, which fell by 5.6%, and Plastic & Rubber, which was down by 4.2%.