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Construction prices change 0.07% in March

Section: Economic Statistics | Igor Ferreira

April 10, 2024 09h00 AM | Last Updated: April 10, 2024 11h26 AM

Share of workforce falls -0.02% in March. - Picture: Helena Pontes

The National Index of Civil Construction (Sinapi) changed 0.07% in March. The rate is 0.08 percentage points lower than the index registered in February (0.15%). As a result, the cumulative index over the last 12 months was 2.36%, below the rate of 2.50% recorded over the 12 months prior to that period. In March 2023, the index had been 0.20%. The data were released today (10) by the IBGE. 

“The share of workforce dropped in March, with a negative change of 0.02%, close to stability. Compared with February, it stayed 0.15 percentage points below. On the other hand, it was 0.42 percentage points lower than the rate of March 2023,” states Augusto Oliveira, manager of Sinapi. 

The national cost of construction by square meter increased against February, when it had been R$1,728.11 and reached R$1,729.25 in March, being R$1,006.19 relative to material and R$723.06, to workforce.  

Having closed the first quarter of the year, the cumulative index in 2024 stayed at 0.44% in the share of material and at 0.38% in the share of workforce. The cumulative indexes in 12 months, in turn, were 0.36% (material) and 5.30% (workforce). 

North and Southeast Regions record the highest rates, Rio Grande do Norte stands out among FUs 

The North and Southeast Regions recorded the highest monthly changes in March, both with 0.13%. They were followed by the Northeast (0.11%). Six out of seven states in the North rose, whereas Rio de Janeiro and Minas Gerais reported positive rates in the Southeast. In contrast, the South (-0.01%) and Central-West (-0.27%) Regions registered negative rates.   

Rio Grande do Norte (1.03%) was the state that recorded the highest rate in March, due to the adjustment in the professional categories.

More about Sinapi

The National System of Costs Survey and Indexes of Construction – SINAPI, a joint production of IBGE and Caixa Econômica Federal – Caixa, aims at producing monthly series of costs for the housing sector, and monthly series of median wages for workforce and median prices for materials, construction machinery and equipment and services for the basic sanitation, infrastructure and housing sectors.

SINAPI statistics are fundamental in investment programming, especially for the public sector.  Prices and costs support the preparation, analysis and assessment of budgets, while indices enable the updating of expense values ​​in contracts and budgets.

See the data for the National System of Costs Survey and Indexes of Construction on Sidra. The coming release of Sinapi, relative to April, will be on May 10.

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