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Press Release 27/04/2017

CONSTRUCTION COSTS INDEX, MARCH 2017

Construction costs in the Basque Country fell by 0.5% in March 2017 with regards to the previous month

Compared to the previous year, March 2016, costs rose by 0.5%

There was a 0.5% fall in the Construction Costs Index in the Basque Country in March 2017 compared to the previous month, whilst the year-on-year rate for the same month rose by 0.5%, 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 0.7%.

In March, the subsectors 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 0.6% in Building and 1.1% in Civil Works. In year-on-year terms both sub-sectors showed different variations. Building raw material costs fell by 0.1%, whereas those for Civil Works recorded a 2.7% increase.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (March 2017 on March 2016) include the sectors of: Oil refining, with 31.2%; Metallurgy, with 8.4%, and Non-Metal Industry, with 2.4%. 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%; Non-Metallic Minerals, with a 1.9% drop; and Chemical Industry, with a fall of 1.4%.

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