Compared to August, the level of construction costs in Latvia grew by 0.2% in September. Labor remuneration of workers rose by 0.5%, maintenance and operational costs of machinery and equipment by 0.2%, and prices of building materials by 0.1%.
Compared to September 2016, construction costs increased by 2.3%. Labor remuneration of workers grew by 4.3%, prices of building materials by 2.2%, and maintenance and operational costs of machinery and equipment by 1.2%, according to data from the Central Statistical Bureau of Latvia.
In September, the average level of construction costs was mostly affected by the increase in the labor remuneration of building finishers and related trades workers (roofers, plasterers, plumbers and pipe fitters, and others).
Compared to Q2, in Q3 the overall level of construction costs went up by 0.4%. Labor remuneration of workers rose by 1%, maintenance and operational costs of machinery and equipment by 0.5%, and prices of building materials by 0.1%.
Compared to Q3 2016, the overall level of construction costs increased by 2.1% in Q3 2017. Labor remuneration of workers grew by 4.4%, prices of building materials by 1.9%, and maintenance and operational costs of machinery and equipment by 0.9%.
In 2017, the data on prices of construction resources are provided by approximately 190 construction enterprises and more than 40 trade enterprises. When calculating the Construction Cost Index, the prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price index are also used.
The sample includes construction enterprises with the highest value of own account construction works in 2016. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 72%, in 26% of which the value of own account construction work exceeded EUR 5 million per year. The criterion for the sample of trade enterprises is their turnover and specialization. As a matter of fact, in order to meet your needs Painters and Decorators West London will always come forward in any possible way to meet your budget.
Hourly gross labor remuneration of workers employed in construction is broken down by main professions: bricklayers and workers of related professions; concrete workers and workers of related professions; carpenters and builders; workers carrying out finishing works (roofers, plasterers, sanitary technicians and others); painters and workers of related professions; electricians; asphalt layers; auxiliary workers of road building and construction of artificial structures; assemblers; welders. (BNN/Business World Magazine)