Construction output price index

The construction output price index provides information on the change in actual prices that the constructor has to pay for construction activities and serves as a deflator to determine the real change in construction output figures. Since the 1st quarter of 2015, all construction output price indices have been calculated and published taking the average for 2015 = 100 as the base. More detailed explanations of the methodology and information on the 2015=100 revision (including baskets of goods and weighting schemes) can be found in “Further information” (available in German only).

Please consult our German website for tables and charts containing further information.

Results and their publication

As with the old index, since the 1st quarter of 2015 the new index for structural engineering (base year 2015) has been published as an overall index for structural engineering, construction of residential buildings and other structural engineering, subdivided into building contractors’ activities and other construction activities. In addition, for each activity group 28 partial indices are published for construction of residential buildings and 27 partial indices for other structural engineering, in accordance with the technical specifications for structural engineering. Results for the “Länder” (federal provinces) and NUTS 1 results (Eastern, Southern and Western Austria) are also calculated and published for the entire sector of construction of residential buildings and other structural engineering. As of the 1st quarter of 2015, the revised index for civil engineering has – as was the case with the old index – been published as an overall index for civil engineering, road and bridge construction and other civil engineering. There are also published 9 partial indices are published for road construction and 8 partial indices for bridge construction and other civil engineering in accordance with the current technical specifications for construction.

The final results are published 40 days after the end of the quarter under review. Exact publication dates for the first and second half of the year can be found in Statistics Austria’s publication calendar (available in German only). Current figures are published quarterly in the Statistical Overviews, database STATCube, in press releases and on the Eurostat website.

Definition

The construction output price index for construction of residential buildings and other structural engineering as well as for road construction, bridge construction and other civil engineering underwent a comprehensive revision (new baskets of goods and new weighting schemes) in 2015 in order to take into account changes in construction technology and methods as well as new environmental standards and technical specifications for construction in the index calculations. As of the 1st quarter of 2015, all construction output price indices are calculated and published taking the 2015 average = 100 as the base (for more information regarding the base 2010, see “Documentation” (available in German only)).

The construction output price index is an important element of the price statistical system. By observing market prices for representative individual construction activities in structural and civil engineering throughout all the Länder, it shows the development of prices in the construction industry. This index takes into account not only price development of the material and wage production factors used in the construction process, but also implicitly includes changes in productivity and the construction companies’ profit margins. The construction output price index thus provides information on the change in actual prices that the principal has to pay for construction activities and serves as a deflator to determine the change in real terms in the construction output figures.

Statistics Austria has been calculating construction output price indices for construction of residential buildings since 1971. In subsequent years, calculations were extended to include other structural engineering, road construction, bridge construction and other civil engineering and the structural and civil engineering aggregates as well as overall construction (structural and civil engineering) (for more information regarding the base 2010, see “Documentation” (available in German only)).

Calculation

For all construction sectors, the Laspeyres index formula (fixed basket of goods, fixed weighting) is used for the calculations.

In structural engineering, the index number method is used to show (at current price/base price) each individual price for an individual construction activity by means of an index number (= index number at survey unit level) that can be compared with the corresponding base price (base: 2015 average = 100). Using the geometric mean, these individual index numbers determined for each survey unit give an unweighted average index number for each individual construction activity and for each Land. An Austrian index number for each individual activity is calculated by means of the Länder weightings (determined on the basis of production sold in 2015). Using the weightings for the individual activities, the index numbers for the individual activities are combined to form both the activity groups and the group indices for construction of residential buildings and other structural engineering.

In civil engineering, the index number method using the geometric mean is also used to determine an average price for the whole of Austria from the quarterly price reports available for each individual activity. This gives an index number that can be compared with the corresponding base price (average price for the 2015 base period). Using the weightings, the index numbers for each individual activity are then combined to form both the activity groups for each civil engineering sector and the group indices for road and bridge construction and for other civil engineering.

These subindices are then combined to give the partial indices for structural engineering and civil engineering. The overall index for construction output prices can then be calculated from the combined weighting of the partial indices for structural engineering and civil engineering. For more information on this, please refer to the information on baskets of goods and weights.

Breakdown of the results

As with the old index, since the 1st quarter of 2015 the new index for STRUCTURAL ENGINEERING (base year 2015) has been published in the form of an overall index for structural engineering, construction of residential buildings and other structural engineering, subdivided into building contractors’ activities and other construction activities. The index is published as a final figure 40 days after the end of the quarter under review. In addition, for each activity group 28 partial indices are published for construction of residential buildings and 27 partial indices for other structural engineering, in accordance with the technical specifications for structural engineering. Results for the Länder and NUTS 1 results (Eastern, Southern and Western Austria) are also calculated and published for the entire sector of construction of residential buildings and other structural engineering.

As of the 1st quarter of 2015, the revised index for CIVIL ENGINEERING has – as was the case with the old index – been published as an overall index for civil engineering, road and bridge construction and other civil engineering. What is new, however, is that here too partial indices are calculated and published for each activity group in accordance with the current technical specifications for construction (transport infrastructure construction - LB-VI 004; sanitary engineering - LB-SW 05). There are 9 partial indices for road construction and 8 partial indices for bridge construction and other civil engineering.

The results of the construction output price indices can be retrieved from the Statistical Overviews and the database STATCube 40 days after the quarter under review has ended.

In addition, the summary reports 2.10 - Construction output price index for activity groups and regions and 2.11 – Construction output price index for structural and civil engineering are published quarterly and are available to download free of charge from “Further information” and “Publications” (available in German only).

Exact publication dates for the first and second half of the year can be found in Statistics Austria’s publication calendar (available in German only).

More detailed explanations of the methodology can be found in “Further information” and “Documentation” (available in German only).

Results (overview): Construction output price index, base year 2015=100


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