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Press Release 29/03/2017

CONSTRUCTION COSTS INDEX, FEBRUARY 2017

Construction costs in the Basque Country rose 0.1% in February 2017 compared to the previous month

Compared to the previous year, February 2016, costs rose by 0.9%

There was a 0.1% rise in Construction Costs in the Basque Country in February 2017 compared to the previous month, whilst the year-on-year rate for the same month rose by 0.9%, 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 rose by 0.2%.

In April, the subsectors of Building and Civil Works saw an identical change in the cost of their raw materials in relation to the previous month, with a rise of 0.2% in both cases. The year-on-year performance of both sub-sectors was similar, though to a different degree. Building raw material costs rose by 0.4%, whereas those for Civil Works recorded a 4.0% increase.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (February 2017 on February 2016) include the sectors of: Oil refining, with 46.8%; Metallurgy, with 6.5%, and Machinery, with 1.7%. On the other hand, the sectors with the biggest price reductions over the last twelve months in raw materials were: Plastic & Rubber, which was down 3.7%; Electronic Material, with a drop of 1.1%, and Electricity & Gas and Chemical Industry, with a 0.7% decrease in both cases.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE (p). February 2017
Source: Eustat. Construction costs index