6427.0 - Producer Price Indexes, Australia, Dec 2016 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 27/01/2017   
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STAGE OF PRODUCTION COMMENTARY


STAGE OF PRODUCTION (SOP) OVERVIEW

In the December quarter 2016, the Final demand index rose 0.5%, the Intermediate demand index rose 0.6% and the Preliminary demand index rose 0.6%. Through the year to the December quarter 2016, the Final demand index rose 0.7%, the Intermediate demand index rose 1.0% and the Preliminary demand index rose 0.9%.

The rise of 0.5% in the Final demand index in the December quarter 2016 reflected a rise of 0.7% in the prices of domestically produced products and a fall of 0.6% in the prices of imported products.

The domestic component recorded rises in the prices for Building construction (+0.8%), Petroleum refining and petroleum fuel manufacturing (+13.3%) and Accommodation (+9.7%). Partly offsetting these rises were falls in the prices for Grain, sheep, beef and dairy cattle farming (-2.0%), Dairy product manufacturing (-0.5%) and Electricity, gas and water supply (-0.4%).

The imports component recorded falls in the prices for Electronic equipment manufacturing (-1.5%), Other transport equipment manufacturing (-2.0%) and Photographic and scientific equipment manufacturing (-2.8%). Partly offsetting these falls were rises in the prices for Petroleum refining and petroleum fuel manufacturing (+11.0%), Motor vehicle and part manufacturing (+0.2%) and Oil and fat manufacturing (+9.3%).

The rise of 0.6% in the Intermediate demand index in the December quarter 2016 reflected a rise of 0.5% in the prices of domestically produced products and a rise of 0.7% in the prices of imported products.

The domestic component recorded rises in the prices for Coal mining (+53.6%), Oil and gas extraction (+7.6%) and Petroleum refining and petroleum fuel manufacturing (+7.2%). Partly offsetting these rises were falls in the price for Basic chemical manufacturing (-10.1%), Grain, sheep, beef and dairy cattle farming (-1.4%) and Machinery and equipment hiring and leasing (-1.0%).

The imports component recorded rises in the prices for Petroleum refining and petroleum fuel manufacturing (+12.8%), Oil and gas extraction (+6.6%) and Basic non-ferrous metal manufacturing (+10.6%). Partly offsetting these rises were falls in the prices for Electrical equipment manufacturing (-3.7%), Textile, clothing, footwear and leather manufacturing (-0.7%) and Electronic equipment manufacturing (-2.5%).

The rise of 0.6% in the Preliminary demand index in the December quarter 2016 reflected a rise of 0.7% in the prices of domestically produced products and a rise of 0.4% in the prices of imported products.

The domestic component recorded rises in the prices for Coal mining (+53.7%), Petroleum refining and petroleum fuel manufacturing (+10.2%) and Oil and gas extraction (+7.0%). Partly offsetting these rises were falls in Basic chemical manufacturing (-9.9%), Machinery and equipment hiring and leasing (-0.8%) and Other mining (-3.2%).

The imports component recorded rises in the prices for Petroleum refining and petroleum fuel manufacturing (+12.0%), Oil and gas extraction (+6.7%) and Basic non-ferrous metal manufacturing (+10.9%). Partly offsetting these rises were falls in Pharmaceutical and medicinal product manufacturing (-22.1%), Photographic and scientific equipment manufacturing (-9.0%), and Electronic equipment manufacturing (-2.4%).

Comparison of SOP indexes
Graph: Comparison of SOP indexes