Eustat
Methodological Note: Construction Index (ICC)
ICC. Methodological Note
CONSTRUCTION INDEX (ICC) FOR THE BASQUE COUNTRY. Base 2005
The Construction Index for the Basque Country is a contextual indicator that seeks to measure the evolution of construction sector activity in the Basque Country (CAE) and thus expands the information provided in the Annual Economic Accounts.
It is a sample survey of companies whose main activity comes under F section of CNAE-2009 (National Classification of Economic Activities) and which totally or partially operate n the CAE.
The sample consists of two strata, one of which is a census stratum that includes companies with over 19 employees and the other is obtained using a random process comprising companies whose number of employees does not exceed that figure. The result is a panel that ensures that the companies are representative in terms of their activity (building and civil works).
The sample panel of the ICC is not closed as it could vary over time, in response to any company that is removed from the list for various reasons, and thus allowing new additions. It currently consists of 689 construction sector companies.
The ICC is a weighted Laspeyres index that is based on calculated fixed weights with data from the base year. These indices have the advantage of being easy to calculate and interpret. In the first quarter of 2008, work was completed that enabled the base of the Construction Index from 2004 to 2005 to be renewed. This process included a change of the weighting coefficients used, which are obtained from the data of the Construction Statistics for 2005 and prepared by Eustat.
The linked series performed has enabled analysts and users to monitor quarterly, without breaks, the data since 1989.
In addition to its gross series, corrected and discounting the seasonal effect, the indices are calculated using the TRAMO-SEATS program. The seasonal effect is also discounted from the personnel employed index. All the indexes are published in the Autonomous Community.
