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Press Release 30/01/2017

CONSTRUCTION COSTS INDEX, DECEMBER 2016

Construction costs in the Basque Country remained the same in December 2016 compared to the previous year

Compared to the previous month they increased by 0.1%

There was no change in Construction Costs in the Basque Country in December 2016 compared to the year before in year-on-year terms, whereas it decreased by 0.1% compared to November, according to data provided by EUSTAT.

With regards to the previous month, there was no change in labour costs (0.0%), whereas raw material costs fell by 0.1%.

In the Building sub-sector the cost of raw materials fell 0.2% in December compared to the previous month, whereas in the Civil Works sub-sector it increased 0.7%. The year-on-year trends in these two sub-sectors saw positive and negative variations: costs of raw materials in Building fell by 0.4%, whilst costs in Civil Works posted a 1.1% rise.

The prices of raw materials consumed by the sector that recorded the biggest increases in their annual prices (December 2016 on December 2015) included those in the sectors of Oil Refining, which was up by 18.8%, and the Timber Industry, with a rise of 1.6%, and Electrical Material, which rose by 1.5%. On the other hand, sectors that saw the biggest price reductions over the last twelve months in raw materials include the sectors of Electricity & Gas, with a decrease of 7.8%; Plastic & Rubber, which fell by 4.6%; and Manufacture of Furniture and Non-Metallic Minerals, which was down by 1.3%.

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