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Press Release 29/05/2017

CONSTRUCTION COSTS INDEX, APRIL 2017

Construction costs in the Basque Country fell 0.2% in April 2017 compared to the previous month

Compared to the previous year, April 2017 on April 2016, costs rose by 0.7%

There was a 0.2% fall in the Construction Costs Index in the Basque Country in April 2017 compared to the previous month, whilst the year-on-year rate for the same month rose by 0.7%, 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 0.3%.

In April, the sub-sectors of Building and Civil Works showed a negative trend in the cost of their raw materials in relation to the previous month, with a fall of 0.3% in Building and 0.1% in Civil Works. The year-on-year performance of both sub-sectors was positive, though to a different degree. Building raw material costs rose by 0.2%, whereas those for Civil Works recorded a 3.3% increase.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (April 2017 on April 2016) include the sectors of: Oil refining, with 30.9%; Metallurgy, with 10.4%, and Metal Products, with 2.0%. On the other hand, the sectors with reductions in the prices of their raw materials as a whole over the last twelve months include: Rubber and Plastic, which fell by 3.7%; Chemical Industry, which dropped by 1.0%; and Non-Metallic Minerals, with a decrease of 0.9%.

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