Page 76 - Building Journal - November 2017
P. 76
BUILDING COSTS
Construction & Installation Price Index Mainland China
Source : National Bureau of Statistics (NBS) of China
Explanatory Notes:
Data are published on a quarterly basis, measuring the year-on-year change in price level of each quarter, but the quarter-on-quarter change is not
published, ie. the changes between consecutive quarters are not given.
To give an illustration of the price trend over time, Arcadis applies a hypothetical calculation to derive the data table and chart as above, basing on the
following understanding and assumptions:
1. Only indices from 1st Quarter 2003 and onwards are published.
2. For 2002 and before, indices were only published annually. This annual index indicates that the average fluctuation of 2002 was moderate. Arcadis' own
in-house data further substantiates that construction costs in 2002 were rather stable throughout the year.
3. Changes between quarters in 2002 are assumed to be evenly distributed throughout the year. This establishes a notional relationship between the four
quarters in 2002 and can be compared with the published data for 2003 to find their notional quarter-on-quarter changes.
4. For comparison purposes, 4th Quarter 2002 is referred to as base and the base index as 100.
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