STAGE OF PRODUCTION COMMENTARY
STAGE OF PRODUCTION (SOP) OVERVIEW
In the March quarter 2017, the Final demand index rose 0.5%, the Intermediate demand index rose 0.8% and the Preliminary demand index rose 0.9%. Through the year to the March quarter 2017, the Final demand index rose 1.3%, the Intermediate demand index rose 2.2% and the Preliminary demand index rose 2.1%.
The rise of 0.5% in the Final demand index in the March quarter 2017 reflected a rise of 0.5% in the prices of domestically produced products and a fall of 0.1% in the prices of imported products.
The domestic component recorded rises in the prices for Electricity, gas and water supply (+2.9%), Building construction (+0.6%) and Heavy and civil engineering construction (+0.5%). Partly offsetting these rises were falls in the prices for Commercial fishing (-18.6%), Meat and meat product manufacturing (-2.1%) and Grain, sheep, beef and dairy cattle farming (-2.0%).
The imports component recorded falls in the prices for Specialised machinery and equipment manufacturing (-3.4%), Motor vehicle and part manufacturing (-1.0%) and Furniture and other manufacturing (-1.9%). Partly offsetting these falls were rises in the prices for Petroleum refining and petroleum fuel manufacturing (+8.6%), Clothing manufacturing (+2.9%) and Tobacco product manufacturing (+2.3%).
The rise of 0.8% in the Intermediate demand index in the March quarter 2017 reflected a rise of 0.8% in the prices of domestically produced products and a rise of 1.3% in the prices of imported products.
The domestic component recorded rises in the prices for Electricity, gas and water supply (+5.5%), Petroleum refining and petroleum fuel manufacturing (+8.1%) and Basic non-ferrous metal manufacturing (+8.2%). Partly offsetting these rises were falls in the price for Employment services (-2.8%), Printing and printing support services (-6.9%) and Rental and hiring services (excluding real estate) (-2.0%).
The imports component recorded rises in the prices for Petroleum refining and petroleum fuel manufacturing (+8.3%), Oil and gas extraction (+12.6%) and Basic non-ferrous metal manufacturing (+7.8%). Partly offsetting these rises were falls in the prices for Computer and electronic equipment manufacturing (-1.5%), Specialised machinery and equipment manufacturing (-4.8%) and Other machinery and equipment manufacturing (-4.0%).
The rise of 0.9% in the Preliminary demand index in the March quarter 2017 reflected a rise of 0.8% in the prices of domestically produced products and a rise of 1.5% in the prices of imported products.
The domestic component recorded rises in the prices for Electricity, gas and water supply (+5.6%), Petroleum refining and petroleum fuel manufacturing (+9.2%) and Basic non-ferrous metal manufacturing (+8.9%). Partly offsetting these rises were falls in Employment services (-2.8%), Rental and hiring services (excluding real estate) (-3.0%) and Printing and printing support services (-6.5%).
The imports component recorded rises in the prices for Oil and gas extraction (+12.7%), Petroleum refining and petroleum fuel manufacturing (+8.6%), and Basic and non-ferrous metal manufacturing (+7.8%). Partly offsetting these rises were falls in Other machinery and equipment manufacturing (-4.2%), Computer and electronic equipment manufacturing (-1.5%) and Specialised machinery and equipment manufacturing (-3.8%).
Comparison of SOP indexes
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