Description of node <>

Subject Predicate Object <p>The producer cost indices for construction were created according to the KLEMSTD theory set up by the economists of the productivity.<br /> This theory consists in dividing the producer costs in seven items :<br /> K for capital,<br /> L for Labour,<br /> E for energy,<br /> M for Materials,<br /> S for Services,<br /> T for Transports<br /> D for Detritus.<br /> Each item is composed of simple and elementary cost index and an associated weight.</p> <p>The elementary cost indices and associated weights were choosen and estimated by using two types of information : public statistics on construction companies and comptability information from work construction projects provided by the construction companies of professional unions (building construction and civil engineering). All the elementary cost indices come from public statistical sources.</p> <p>The producer costs for construction are based in reference 100=a specific year (the mean of the values of the specific year has to be equal to 100) and they are estimated according to Laspeyres theory. The producer costs are rebased every five years according to european reglementation.<br /> The choice of elementary cost indices and the estimation of associated weights are updated when the producer costs are rebased or at the request of professional unions.</p>