cost and price indices
TRANSCRIPT
Engineering Costs and Production Economics, 8 (1984) 3 - 14 Elsevier Science Publishers B.V., Amsterdam - Printed in The Netherlands
3
COST AND PRICE INDICES
Norman Boyd
1983 was an auspicious year, the first in which costs and prices showed signs of level- ling off after many years of continuous escala- tion. The indices of erected costs of plants (Table 4) show that in four countries: West Germany, the Netherlands, Canada and Japan, the Jan. 1984 indices are virtually the same as those for a year earlier. Of the remaining nine countries, Italy has the largest increase at 12.6%, followed by Denmark with Il. l%, Sweden with 10.7% and France 9.2%. Belgium, the U.K., Australia, Norway and the U.S.A. have increases in the range S-71/2%. If these increases in 1983 are com- pared with those for 1982 reported in an earlier issue [ 11, they show a reduction in the rate of escalation of about lo%, except for Sweden, with a reduction of less than 3%, and the U.S.A. which remained unaltered at about 6% per year escalation. The question which now arises is whether this stabilisation of price levels will continue or does it represent only a temporary halt in price escalation: does it signify a peak or a plateau.
ERECTED COSTS OF PLANTS
The method used to assess erected plant
costs, and hence the indices, has been described
in earlier issues [2, 31 but essentially it incor- porates prices of cement and three steel prod- ucts and hourly labour costs in the mechanical engineering and construction industries in pro- portions which vary for different countries. An examination of Table 1 will show that in most
countries the 1982 average prices for the three steel products, reinforcing rod, sections and plate have carried through to 1983 with little alteration. Prices of reinforcing rod have fallen and those for plate have risen in some instances. For cement, 1983 annual average prices are generally higher than those of 1982, but the effect of cement prices an overall plant costs is not large. Of the thirteen coun- tries covered, only three, West Germany, the Netherlands and Japan show a reduction in the total materials cost content. For Canada and the U.K. the materials cost content is virtually the same for 1983 as for 1982. The remaining eight countries all show an increase in the total materials cost content for 1983.
The hourly labour costs used in assessing the erected costs of plants are in mechanical engineering (ISIC 382) and construction (ISICS). Hourly earnings (Table 2) and hourly labour costs (Table 3) in these industries rose in all countries in the twelve months from October 1982, except for construction in Canada where there was a fall of about 10%. In general, costs rose at a slower rate than in the previous twelve months, and in some countries -notably West Germany and the Netherlands, were small as a percentage.
The net result on the erected costs of plants of these changes is that, for West Germany, the Netherlands and Japan, the reduction in the materials cost content offset the increase in the labour cost element in the last year, while for Canada the very small increase in materials cost was offset by the decrease in labour costs.
0167-188X/84/$03.00 0 1984 Elsevier Science Publishers B.V.
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6
SLE 2
Indices of average hourly earnings of adult manual a workers in selected industries (1914 = 100)
Country ISlC b 1974 1975 1976 1977 1978 1979
Oct. Oct. Oct. Oct. Oct. Oct.
Local Equivalent
currency U.S. $
Belgium 351 B.Fr. 371
382
5
FIPtIW 351 F.Fr. 371
382
5
German Fed. Rep. 351 DM
Italy
Netherlands
U.K.
Australia
Canada
U.S.A.
Denmark
Norway
Sweden
Japan
371
382
5
351 Lire
371
382
5
351
37
382
5
Guilder
35112 Pound
371
382
5
3511213 A.$
37
3811213
5
157.25 4.01
171.89 4.38
133.94 3.42
130.07 3.32
12.02 2.54
11.71 2.48
11.04 2.33
10.08 2 13
11.02 4.16
10.05 3.80
9.89 3.73
10.00 3.78
1486 2.25
1542 2.34
1325 2.01
1255 1.90
10.60 3.93
10.73 3.98
9.47 3.51
9.70 3.60
1.17 2.74
1.16 2.71
1.10 2.57
1.04 2.43
3.79 4.98
3.73 4.90
3.42 4.50
3.55 4.67
35112 Can. $
37112
382
5
351 U.S. $
371
382
5
4.74 4.81
5.43 5.51
5.13 5.20
6.77 6.87
5.56
5.81
5.09
6.99
35112 D.Kr.
38213
S
35 l/2 N.Kr.
382
5
26.68 4.36
27.92 4.56
29.17 4.77
22.12 4.00
23.39 4.23
26.39 4.78
35 Sw.Kr.
371
382
5
18.50 4.17
20.90 4.71
19.37 4.3s
22.45 5.06 (12 months to Dec.1974)
35112 Yen 1115.8 3.74
371 1126.1 3.78
382 940.8 3.16
5 722.8 2.43
118 131 147 152 165 108 122 132 137 157 114 125 137 142 156 116 132 146 150 167
114 129 145 165 190 121 136 152 168 189 115 135 153 169 189 115 137 154 171 195
106 115 I 24 127 128 105 113 120 126 133 108 114 123 129 135 104 110 117 124 134
122 161 190 232 291 124 154 183 205 255 124 158 188 210 262 12s 158 187 218 279
115 123 134 141 148 109 120 130 139 147 112 120 130 137 143 114 123 135 148 162
128 140 150 174 208 130 147 158 I84 209 126 140 IS5 177 207 128 143 157 17s 201
113 127 139 150 173 112 128 144 150 165 108 123 135 143 157 112 I28 141 149 I62
113 128 140 150 161 116 127 141 152 166 115 126 136 147 162 119 132 148 156 167
110 122 133 142 110 120 135 149 108 115 126 136 106 113 118 i?7
154 164 148 136
(3rd Qr)
115 129 143 159 177 119 131 142 160 177 ’ 14 129 144 160 180
113 137
118 140 116 136
165
168
165
121 135 120 132
118 130
119 133
153
155
151
145
141
141
149
153
151
149
158
163
173
171
(4th Qr)
169
167
161
170
(-Dec.1975) (-Dec.1976) (-Dec.1977) (-Dec.1978) (-Dec.)
112 121 132 139 151
118 126 I38 143 150
114 122 133 139 150
117 132 148 160 172
a For Japan, manual and non-manual workers. including holiday pay (see: Vol. 5, pp. 75-77)
b lntemational Standard Industrial C1assification:
35 Manufachtre of chemicals 353 Petroleum refineries
351 Manufacture of industrial chemicals 37 Basic metal industries
352 Manufacture of other chemicals 371 Iron and steel basic industries
7
1980
ApI. Oct.
1981
Apr. Oct.
I983
Apr. Oct.
1983
Apr. Oct.
177 I83 198 164 172 186 164 169 I89R 174 180 l94R
203 219 230 247 272 203 218 226 249 273 201 227 230 2531 276H 210 227 243 263 289
208 200 200 202 284 289 289 296
300 304 306 317
221 p 212p 212 p 214 p 315 315 317 332
137 137 142 146 149 153 157 159 141 I41 144 149 I56 154 161 160
143 146 I48 153 I58 159 162 164
I41 144 147 I51 I53 156 161 162
316 351 381 414 443 477 512 543 277 313 353 385 4n9 442 476 507 284 321 363 395 419 453 490 523
301 327 374 406 44x 484 518 p 547 p
155 I54 I53 170
228 247 259 232 247 261 230 240 255 227 247 259
165 164 162 180
275 272 263 266
175 178 172 17s 171 172 190 193
283R 295 313 325 291 296 313 320 282 286 301 306 2R3 289 306 309
I95 21n 246 258 p 192 214R 249 261 p I75 204R 244 256 p I81 215R 280 263 p
177 186 I72 183 169 176 173 186
209 221 228 232 240 214 226 240 240 252 202 209 216 219 222 212 216 228 207 202
I58 170 I54 138 (1st Qr)
169 180 164 147
197 192 188 194
17Y 193 170 149
(3rd Qr) (1st Qr)
189 I91 I95
162 185 184 172 198 196 I71 189 190 (2nd Qr) (4th Qr) (2nd Qr)
174 I85 201 172 179 192 166 I75 187 179 190 200 (-June) (-Dec.) (-June)
I57 I65 169 152 162 I58 I54 I61 I65 176 183 192
I91 I95 204 206 197 203 208 196 178 182 183 186 I58 162 169 170 (3rd Qr) (1st Qr) (3rd Qr) (1st Qr)
2lOR 233 208R 232 2llR 240
199 196 222 221 211 209 232 232 204 209 230 228 (4th Qr) (2nd Qr) (4th QI) (2nd Qr)
203 216 213 231 194 209 209 224 194 206 210 220 203 213 208 219 (-Dec.) (-June) (-Dec.) (-June)
173 177 186 177 175 179 182 179 I71 176 181 176 198 201 205 201.
215 195 192 172 (3rd Qr)
246 241 252 p
233 248 235 (4th Qr)
236 228 225 223 (-Dec.)
194 187 184 213
372 Non-ferrous metal basic industries 381 Manufacture of fabricated metal products. excl. machinery 382 Manufacture of machinery excl. electrical
383 Manufacture of electrical machinery 5 Construction
TA
BL
E
3
Indi
ces
of a
vera
ge h
ourl
y la
bou
r co
sts
of a
dult
man
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a w
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in s
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1974
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Cou
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IC b
19
70
1971
19
72
Bel
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351
48
57
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79
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50
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50
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5 51
57
62
78
N
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35
1
56
64
73
85
37
54
61
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81
382
57
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5 55
67
76
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1973
19
74
1975
19
76
1977
19
78
1979
19
80
1981
19
82
1983
Loc
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213
51
60
65
75
5 56
63
63
74
C
anad
a 35
112
68
14
80
85
3711
2 68
73
81
89
38
2 67
12
16
87
5
65
71
78
85
Japa
n
3511
2 43
50
59
74
(A
nn
ual
37
1 46
52
59
75
av
erag
es)
382
44
50
59
75
5 49
57
66
78
N
orw
ay
3511
2 59
64
14
81
(3
rd Q
uar
ter
382
59
66
73
82
of e
ach
yea
r)
5 62
69
69
85
S
wed
en
35
61
66
76
85
(4th
Qu
arte
r 37
1 60
66
75
85
of
eac
h y
ear)
38
2 59
69
76
87
5
67
71
80
89
U.S
.A.
351
74
78
84
91
371
68
73
80
96
382
72
76
83
88
5 77
83
89
95
Pou
nd
A.
$
Can
. $
Yen
N.K
r.
SW
&.
U.S
. $
1.60
3.
75
129
143
153
178
214
254
1.24
3.
01
157
181
194
231
265
312
1.41
3.
29
126
142
157
180
214
252
1.30
3.
04
129
143
155
172
200
246
4.81
6.
32
113
129
141
152
176
198
4.74
6.
22
112
129
145
153
168
195
4.34
5.
72
108
123
136
145
160
180
4.51
5.
93
112
129
142
152
164
184
5.93
6.
01
113
128
140
150
161
186
6.19
6.
89
118
133
150
165
182
199
6.21
6.
30
116
127
139
149
168
183
7.99
8.
11
120
134
151
157
174
192
1295
4.
54
113
123
134
144
159
171
1306
4.
58
121
131
144
151
159
172
1092
3.
83
113
123
135
143
155
167
839
2.94
11
7 13
3 15
1 16
4 17
8 18
9 30
.97
5.60
11
4 13
9 15
5 16
7 16
5 18
8 32
.15
5.92
12
0 14
2 15
7 17
1 17
6 20
1 35
.10
6.35
1
l-8
138
154
168
174
192
26.0
9 5.
88
126
146
161
174
192
217
30.3
1 6.
83
123
138
148
162
176
205
27.5
1 6.
20
122
138
154
167
184
206
30.7
6 6.
93
123
141
162
175
192
219
7.51
11
2 12
5 13
6 14
5 15
7 17
2 7.
61
112
123
138
152
168
197R
6.
82
108
115
126
136
149
166
8.95
10
8 11
4 12
2 12
9 14
0 15
1
292
313
356
389
280
305
278
295
219
258
222
R
260
213R
25
5 22
4 R
26
2 21
8 23
1 21
3 22
3 18
1 18
7 17
8 20
7 20
2 21
4 20
1 23
1 21
8 22
3 24
1 19
8 22
6R
182
166
241
269
232
244
196
196
190
216
227
237
235
249
235
244
251
212
252R
18
8 17
7
347
423
329
325
278~
28
1 p
214
p 28
2 p
251
286
242
219
207
205
197
221
241
255
242
278
256
263
268
230
238
203
188
Indi
ces
appl
y at
Oct
ober
of
eac
h y
ear
un
less
oth
erw
ise
stat
ed.
aan
dbS
eeT
able
1.
10
TABLE 4
Indices of erected costs of plants (a)
As at Jan. 1 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984
Belgium 0.61 0.61 0.68 0.79 1.00 1.09 1.16 1.27 1.29 1.40 1.50 1.64 1.89 2.00 p Denmark 0.59 0.59 0.67 0.76 1.00 1.02 1.06 1.16 1.27 1.38 1.54 1.64 1.99 2.20 France 0.59 0.64 0.70 0.79 1.00 1.13 1.25 1.34 1.46 1.59 1.82 2.05 2.50 2.73 W. Germany 0.68 0.75 0.80 0.88 1 .oo 1.03 1.07 1.11 1.14 1.21 1.29 1.38 1.53 1.52 Italy 0.50 0.54 0.57 0.74 1.00 1.19 1.43 1.67 1.92 2.27 2.67 3.15 3.89 4.38 Netherlands 0.60 0.67 0.70 0.78 1.00 1.09 1.14 1.22 1.18 1.24 1.31 1.42 1.54 1.51 U.K. 0.56 0.64 0.71 0.78 1.00 1.30 1.45 1.61 1.76 2.04 2.35 2.56 2.78 2.92 Australia 0.59 0.66 0.69 0.78 1.00 1.15 1.33 1.46 1.57 1.71 1.93 2.15 2.58 2.77 p Canada 0.70 0.73 0.77 0.86 1.00 1.20 1.33 1.46 1.56 1.76 1.95 2.24 2.46 2.42 Japan 0.62 0.63 0.69 0.78 1 .oo 1.11 1.26 1.39 1.50 1.58 1.70 1.79 1.84 1.84 Norway 0.63 0.69 0.74 0.83 1.00 1.10 1.22 1.35 1.45 1.53 1.69 1.79 2.07 2.18 Sweden 0.59 0.65 0.69 0.81 1.00 1.05 1.16 1.24 1.37 1.49 1.67 1.81 2.05 2.26
U.S.A. 0.71 0.77 0.82 0.87 1 .oo 1.11 1.18 1.27 1.39 1.53 1.68 1.85 1.96 2.09
(a) For method used to calculate costs and indices see Eng. Cost Prod. Econ., 6 (1982) 272 and, 7 (1982) 18.
CURRENCY CHANGES
Except for the Canadian dollar which re- mained tied and the Japanese yen which ap- preciated by about 4%, currencies (Table 5) continued to depreciate in 1983 against the U.S. dollar. Falls ranged from 6% for the deutschemark and 8% for the guilder to 23% for the Swedish kronor. The remaining eight
currencies depreciated by from 10% to 17%. The effect of these changes on hourly labour costs, materials prices and erected costs of plants relative to U.S.A. costs are ‘shown in Tables 6, 7 and 8 respectively. The last of these would indicate that the range of erected costs of plants is continuing to narrow and that plants in the U.S.A. are becoming more expensive related to the other twelve countries.
TA
BL
E
5
Cu
rren
cy e
xch
ange
rat
es r
elat
ive
to U
.S.
doll
ar.
1981
19
82
1983
Fir
st
Sec
ond
An
nu
al
Apr
. 1
Fir
st
Oct
. 1
Sec
ond
An
nu
al
Apr
. 1
Fir
st
Oct
. 1
Sec
ond
An
nu
al
hal
f h
alf
aver
age
hal
f h
alf
aver
age
hal
f h
alf
aver
age
Bel
giu
m
B.F
r.
35.3
38
.5
36.4
45
.2
43.5
48
.95
46.4
6 44
.54
48.2
0 41
.45
53.2
0 53
.40
50.3
5 D
enm
ark
D.K
r.
6.15
1.
39
6.91
8.
22
8.02
8.
83
8.56
8.
24
8.59
8.
68
9.41
9.
53
9.10
F
ran
ce
F.F
r.
5.09
5.
66
5.30
6.
25
6.26
7.
13
6.89
6.
52
1.21
7.
20
1.96
8.
01
7.60
W
. G
erm
any
DM
2.
16
2.32
2.
21
2.41
2.
37
2.52
2.
45
2.40
2.
43
2.44
2.
62
2.64
2.
54
Ital
y L
ie
1060
12
17
1127
13
21
1302
14
19
1390
13
37
1445
14
37
1587
15
88
1514
N
eth
erla
nds
G
uil
der
2.39
2.
57
2.44
2.
61
2.62
2.
77
2.70
2.
65
2.74
2.
73
2.93
2.
96
2.85
U
.K.
Pou
nd
0.46
4 0.
530
0.49
1 0.
560
0.55
2 0.
589
0.59
4 0.
572
0.67
4 0.
648
0.67
4 0.
676
0.66
3
Au
stra
lia
A.$
0.
861
0.87
9 0.
869
0.95
2 0.
939
1.05
3 1.
016
0.91
7 1.
155
1.10
4 1.
117
1.12
5 1.
109
Can
ada
Can
.$
1.19
1.
20
1.19
1.
23
1.24
1.
24
1.26
1.
24
1.23
1.
23
1.23
1.
24
1.23
Ja
pan
Y
en
214
221
219
246
240
269
251
244
239
236
234
23.5
23
5 N
orw
ay
N. K
r.
s .5
4 5.
91
5.66
6.
10
6.04
6.
96
6.73
6.
41
7.21
7.
16
1.33
1.
46
7.31
S
wed
en
Sw
.Kr.
4.
70
5.41
5.
04
5.92
5.
85
6.27
6.
55
6.22
7.
50
I .4
6 7.
81
7.83
7.
65
For
ear
lier
se
e V
ol.
year
s 5
78 a
nd
161,
an
d pp
. V
ol.
7,
105.
p.
12
TABLE 6
Comparison of hourly labour costs, with U.S.A. = 1.0
ISIC a 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983
Belgium
Denmark
France
German Fed. Rep.
Italy
Netherlands
U.K.
Australia
Canada
Japan
Norway
Sweden
351 371 382
5 35 l/2 38213
5 351 371 382
5 351 371 382
5 351 371 382
5 351
37 382
5 35112 371 382
5 35 l/2/3
3::,2,3 5
35112 37112 382
5 35112 371 382
5 35112 382
5 35
371 382
5
0.55 0.67 0.84 0.91 0.97 1.01 1.10 1.29 1.36 1.28 0.97 0.74 0.67 0.62 0.71 0.83 0.96 0.94 1.03 1.05 1.18 1.33 l.OOR 0.87R 0.66R 0.68 0.54 0.62 0.81 0.85 0.91 0.99 1.04 1.19 1.28 1.18 0.91 0.76 0.68 0.40 0.47 0.64 0.73 0.80 0.90 0.98 1.16 1.24 1.21 0.93 0.71 0.64 0.50 0.51 0.68 0.70 0.73 0.77 0.75 0.90 0.97 0.89 0.63 0.56 0.52 0.51 0.59 0.79 0.80 0.89 0.93 0.89 1.06 1.13 1.01 0.76 0.70 0.65 0.46 0.47 0.62 0.63 0.67 0.73 0.74 0.89 0.97 0.90 0.65 0.59 0.57 0.40 0.44 0.55 0.58 0.69 0.63 0.66 0.80 0.89 0.91 0.68 0.58 0.53 0.41 0.48 0.54 0.62 0.74 0.67 0.70 0.80 0.83 0.85R 0.63R 0.52R 0.54 0.43 0.47 0.59 0.59 0.68 0.68 0.71 0.81 0.89 0.89 0.73 0.63 0.57 0.26 0.32 0.40 0.41 0.46 0.47 0.50 0.59 0.74 0.69 0.55 0.46 0.43 0.67 0.67 0.95 0.91 0.90 0.95 1.01 1.15 1.23 1.12 0.81 0.74 0.67 0.63 0.68 0.86 0.85 0.83 0.88 0.89 1.00 1.07 0.94R 0.68R 0.58R 0.62 0.67 0.70 1.00 0.90 0.92 0.99 1.05 1.21 1.30 1.21 0.90 0.84 0.77 0.47 0.50 0.69 0.64 0.63 0.69 0.74 0.88 1.02 0.94 0.70 0.63 0.59 0.48 0.51 0.56 0.59 0.64 0.61 0.64 0.81 0.94 0.96 0.68 0.66 0.62 0.53 0.56 0.55 0.61 0.69 0.63 0.64 0.71 0.80 0.78R 0.57R 0.53R 0.58 0.47 0.51 0.58 0.60 0.67 0.65 0.69 0.78 0.90 0.92 0.71 0.71 0.68
0.29 0.31 0.35 0.40 0.44 0.43 0.46 0.57 0.72 0.67 0.53 0.53 0.50
0.55 0.61 0.85 0.85 0.89 0.89 0.95 1.08 1.14 1.06 0.69 0.69 0.61
0.64 0.69 0.86 0.95 0.95 0.99 1.01 1.13 1.26 1.04R 0.67R 0.64R 0.65 0.61 0.64 0.88 0.89 0.94 0.99 1.05 1.18 1.33 1.22 0.77 0.80 0.71 0.46 0.51 0.70 0.72 0.77 0.81 0.91 1.07 1.20 1.11 0.86 0.76 0.68 0.42 0.43 0.45 0.50 0.50 0.41 0.42 0.51 0.64 0.75 0.58 0.53 0.48 0.40 0.43 0.36 0.40 0.46 0.40 0.41 0.49 0.56 0.62R 0.47R 0.43R 0.43 0.41 0.44 0.47 0.48 0.49 0.43 0.46 0.54 0.65 0.75 0.58 0.57 0.50 0.27 0.30 0.31 0.34 0.36 0.31 0.33 0.38 0.45 0.57 0.45 0.41 0.37 0.53 0.57 0.77 0.84 0.81 0.82 0.74 0.78 0.81 0.85 0.81 0.71 0.69 0.55 0.58 0.71 0.82 0.78 0.81 0.73 0.73 0.70 0.70R 0.67R 0.61R 0.66 0.58 0.59 0.79 0.84 0.81 0.86 0.77 0.78 0.77 0.82 0.79 0.81 0.77 0.44 0.43 0.59 0.66 0.66 0.7i 0.65 0.69 0.67 0.72 0.72 0.68 0.68 0.74 0.76 0.73 0.80 0.77 0.83 0.75 0.69 0.72 0.73 0.72 0.72 0.72 0.88 0.92 0.82 0.91 0.91 0.99 0.90 0.81 0.84 0.77R 0.77R 0.77R 0.87 0.86 0.71 0.89 0.92 0.95 1.04 0.94 0.84 0.89 0.86 0.88 0.91 0.88 0.75 0.80 0.80 0.91 0.96 1.08 1.03 0.91 1.04 0.97 0.99 0.99 0.85 0.31 0.47 0.51 0.60 0.58 0.57 0.62 0.80 0.82 0.79 0.72 0.59 0.66 0.35 0.50 0.49 0.60 0.62 0.61 0.65 0.79 0.76 0.69R 0.65R 0.50R 0.63 0.30 0.37 0.50 0.56 0.56 0.57 0.63 0.78 0.79 0.74 0.72 0.60 0.66 0.18 0.23 0,.28 0.33 0.34 0.37 0.42 0.56 0.58 0.54 0.53 0.42 0.48 0.49 0.55 0.66 0.75 0.75 0.86 0.86 0.93 0.89 0.93 0.71 0.64 0.59 0.61 0.64 0.81 0.87 0.95 1.12 1.09 1.17 1.17 1.20 0.96 0.87 0.82 0.48 0.52 0.64 0.71 0.76 0.89 0.90 1.00 1.10 1.02 0.83 0.75 0.69 0.58 0.66 0.77 0.78 0.88 0.95 0.86 0.95 1.03 1.05 0.74 0.65 0.54 0.72 0.79 0.83 0.90 0.98 1.05 0.88 0.96 1.01 l.OOR 0.69R 0.59R 0.55 0.73 0.78 0.94 0.91 1.02 1.13 1.02 1.12 1.21 1.21 0.88 0.84 0.67 0.59 0.65 0.77 0.77 0.88 0.99 0.95 1.06 1.14 1.20 0.89 0.78 0.63
aInternational Standard Industrial Classifications: See footnote to Table 1
13
TABLE 7
Comparison of prices, with U.S.A. = 1.0, for:
I Ordinary Yortland cement
II Steel re-inforcing bar
III Steel sections (heavy)
IV Steel plate
1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983
Belgium 1
II
III
IV
Denmark I
II
IV
I:rance
Germany I II
III IV
Italy
Netherlands I II
IV
U.K. I
II
III IV
Australia
Canada
Japan
Norway
Sweden
0;62 0.70 0.79 0.77 0.78 0.77 0.84 0.88 0.91 0.92 0.77 0.77 0.72 0.95 0.92 1.49 I .35 1.11 1.02 1 .24 1.17 1.08 1.15 0.91 1.08 1.06 0.80 0.91 1.12 1.08 .0.87 0.88 0.96 0.90 1.02 0.93 0.73 0.72 0.59 0.90 0.95 ’ 14 1.53 1.10 0.87 0.94 0.86 0.94 0.90 0.66 0.66 0.63
0.70 u.78 0.91 1.02 1.07 0.92 0.91 0.95 0.93 1.05 0.90 0.77 0.82 1.45 1.22 1.26 1.18 1.32 1.16 1.05 1 .I5 0.93 I .03 1.05 1.12 1.38 1.03 0.84 0.85 0.88 0.87 0.82 0.62 0.65 0.64
0.71 0.76 0.86 0.83 0.86 0.84 0.77 0.83 0.93 1 .Ol 0.88 0.80 0.73 0.92 1.05 1.33 1.05 1.13 1.16 1.16 1.25 1.05 1.19 0.98 1.01 0.84 0.78 0.83 1.02 0.94 0.87 0.85 0.83 0.92 0.92 0.92 0.70 0.68 0.54 0.89 0.95 1.12 1.20 1.29 1.09 0.89 0.87 0.88 0.87 0.65 0.69 0.62
0.69 0.72 0.82 0.84 0.83 0.74 0.77 0.83 0.84 0.82 0.72 0.74 0.73 1.03 1.16 1.38 1.24 1.14 1.13 1.17 1.20 1.06 1.08 0.90 1.10 0.88 0.86 0.93 1.13 1.06 0.98 0.94 0.93 0.90 0.98 0.86 0.69 0.82 0.62 0.96 1 .Ol 1.23 1.23 1.06 0.94 0.91 0.87 0.93 0.87 0.73 0.73 0.63
0.53 0.55 0.52 0.55 0.61 0.51 0.53 0.56 0.64 0.68 0.61 0.59 0.57 1.03 1.12 1.40 1.32 0.98 0.95 1.09 1.12 1.08 1.03 0.78 0.76 0.75 0.81 0.83 1 .os 1.04 0.89 0.83 0.86 0.88 0.91 0.86 0.61 0.65 0.57 0.83 0.82 1.09 1.21 1.19 0.96 0.87 0.85 0.90 0.87 0.65 0.67 0.63
0.75 0.79 0.89 0.85 0.88 0.83 0.88 0.92 0.92 0.90 0.79 0.76 0.72 0.98 1.09 1.53 1.33 1.06 1.09 1.26 1.16 1.06 1.20 0.98 I.14 0.93
1.08 1.33 1.24 1.13 1.13 0.86 0.88 0.81 0.62 0.68 0.61
0.77 0.79 0.75 0.70 0.78 0.72 0.75 0.84 1 .oo 1.30 1.21 1.10 0.95 1.01 1.12 1.12 I .05 1.11 1.22 1.20 1.17 1.13 1.41 1.22 1.23 1.17 0.81 0.85 0.85 0.92 0.98 0.89 0.89 0.89 1.17 1.23 1.07 0.83 0.70
0.92 0.98 1.05 0.85 0.81 0.86 0.91 0.96 0.74 0.68 0.59
1 .Ol 1.07 1.26 1.25 1.14 1.13 1.05 1.08 1.02 1.06 1.14 1 !5 1.12 1.09 1.23 1.48 1.11 1.23 1.50 1.45 1.42 1.23 1.35 1.47 1.56 1.64 0.76 0.79 0.96 0.97 0.90 0.94 0.86 0.86 0.84 0.90 0.89 0.80 0.70 0.76 0.79 0.97 1 .oo 0.96 0.98 0.88 0.88 0.84 0.90 0.88 0.82 0.68
1.11 1.14 1.09 1.11 1.04 I .13 1.09 0.99 0.99 1.02 1.10 1.20 1.25 1.04 1.18 I.12 0.97 1.19 1.34 1.14 0.97 0.90 0.92 0.95 1.06 1.11 0.92 0.82 0.94 0.86 0.83 0.91 0.84 0.75 0.79 0.83 0.84 0.78 0.76 0.84 0.85 0.87 0.83 0.86 0.93 0.88 0.78 0.79 0.79 0.78 0.76 0.71
0.62 0.72 0.89 0.99 0.84 0.81 0.84 1.06 1.02 1.19 I.18 I .03 1.05 0.71 0.77 0.84 0.77 0.75 0.83 0.92 1.14 1.04 0.98 0.91 0.73 0.67
0.87 0.88 0.96 1.02 1 .07 1.11 1.07 1.05 1.09 1.15 1.07 ti.99 0.97 1.21 1.37 1.50 1.43 1.22 1.17 1.24 1.12 1.19 1.16 1.21 0.99 1.08 1.01 0.90 0.92 0.94 0.75 0.76 0.65
0.76 0.83 0.93 0.92 0.99 0.96 1 .oo 0.95 0.99 1.05 0.93 0.83 0.74 1.27 1.37 1.43 1.52 1.37 1.33 1.45 1.14 1.12 1 .oo 1.44 I .04 1.05 0.91 0.87 0.93 0.95 0.75 0.74 0.62
1.01 1.32 1.67 1.11 0.98 0.80 0.83 0.83 0.80 0.63 0.65 0.60
14
TABLE 8
Comparison of erected costs of plants with U.S.A. = 1.0
As at Jan. 1 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984
Belgium 0.68 0.65 0.73 0.94 1.07 1.00 1.01 1.10 1.18 1.36 1.21 0.92 @.81 0.83 P
Denmark 0.73 0.71 0.76 0.97 1.06 1.01 0.98 0.98 1.10 1.13 1.05 0.80 0.76 0.74 France 0.61 0.61 0.68 0.83 0.85 0.93 0.89 0.87 0.96 1.02 1.04 0.82 0.75 0.68 W. Germany 0.71 0.77 0.81 1.08 1.02 0.98 0.99 1.02 1.12 I.20 1.13 0.88 0.85 0.76 Italy 0.63 0.63 0.66 0.78 0.86 0.88 0.81 0.82 0.91 1.01 1.01 0.78. 0.79 0.74 Netherlands 0.66 0.72 0.75 0.97 1.04 1.05 1.05 1.12 1.13 1.18 1.12 0.82 0.82 0.73 U.K. 0.62 0.66 0.69 0.72 0.77 0.81 0.70 0.72 0.80 0.94 1.08 0.86 0.79 0.68 Australia 0.62 0.66 0.67 0.87 0.92 0.89 0.94 0.85 0.87 0.84 0.90 0.89 0.86 0.80 p Canada 0.87 0.86 0.82 0.90 0.92 0.95 1.05 0.98 0.87 0.90 0.90 0.92 0.92 0.86 Japan 0.40 0.39 0.45 0.54 0.58 0.55 0.59 0.65 0.82 0.79 0.77 0.73 0.60 0.62 Norway 0.79 0.83 0.87 1.09 1.16 1.16 1.28 1.25 1.29 1.31 1.32 1.07 1.00 0.92 Sweden 0.87 0.90 0.95 1.17 1.24 1.18 1.24 1.13 1.19 1.26 1.29 0.99 0.90 0.76 U.S.A. < 1.0 3
REFERENCES
1 Eng. Costs Prod. Econ., 7 (1983) 186. 2 Eng. Costs Prod. Econ., 6 (1982) 272. 3 Eng. Costs Prod. Econ., 7 (1982) 18.