Research Article

Cost Index Predictions for Construction Engineering Based on LSTM Neural Networks

Table 1

Coding, type, and data sources of the index set.

Indicator nameBrief explanationData source

Gross domestic product (GDP)GDP refers to the final result of the production activities of all resident units in a country (or region) calculated in accordance with the national market price in a certain period of time, and is often recognized as the more accurate indicator to measure the economic status of the countryNational Bureau of Statistics of China
Consumer price index (CPI)CPI is a macroeconomic indicator that reflects changes in the price levels of consumer goods and service items generally purchased by households
Money supply (MS)Money supply refers to the sum of cash and deposits in circulation at a certain point in time; money supply is one of the main economic statistical indicators compiled and published by the central banks of various countries

Floor space started (FSS)Floor space started is the construction area of each house newly started in the report period; the commencement of the house shall be subject to the date when starting to break the ground and dig the trench (foundation treatment or permanent pile driving)China entrepreneur Investment Club
Crude oil price (COP)Crude oil price is the first purchase price of a barrel of crude oil
Loan rate (LR)Loan rate is the interest rate charged to borrowers when banks and other financial institutions issue loans; this refers to the annual interest rate of the Bank of China’s loans

Steel bar price (SBP)Glass price (GLP)The information price is the publicly announced average social price determined by the government cost management department based on the amount of various typical engineering materials and social supply; it is generally updated once a month
Material cost index is an index that reflects changes in material cost prices in construction and installation engineering
Shenzhen housing and Construction Bureau, Glodon Company Limited
Concrete price (CP)Wood price (WP)
Cement price (CEP)Block price (BP)
Medium sand price (MSP)Diesel price (DP)
Gravel price (GRP)Material cost index (MCI)
Shenzhen engineering cost indexShenzhen engineering cost index is an indicator that reflects the degree of impact of price changes on engineering costs over a certain period of time