STAGE OF PRODUCTION COMMENTARY
STAGE OF PRODUCTION (SOP) OVERVIEW
In the March quarter 2019, the Final demand index rose 0.4%, the Intermediate demand index rose 0.1% and the Preliminary demand index rose 0.1%. Through the year to the March quarter 2019, the Final demand index rose 1.9%, the Intermediate demand index rose 2.5% and the Preliminary demand index rose 2.9%.
Final Demand
The rise of 0.4% in the Final demand index in the March quarter 2019 comprises a rise of 0.4% in the prices of domestically produced products and a rise of 0.2% in the prices of imported products.
The domestic component recorded rises in the prices for Other agriculture (+10.9%), Heavy and civil engineering construction (+0.4%), and Tertiary education (+1.7%). Partly offsetting these rises were falls in the prices for Accommodation (-4.4%), Petroleum refining and petroleum fuel manufacturing (-2.8%), and Commercial fishing (-15.3%).
The imports component recorded rises in the prices for Other transport equipment manufacturing (+1.9%), Specialised machinery and equipment manufacturing (+1.7%) and Computer and electronic equipment manufacturing (+1.0%). Partly offsetting these rises were falls in the prices for Motor vehicle and motor vehicle part manufacturing (-0.6%), Pharmaceutical and medicinal product manufacturing (-3.2%) and Petroleum refining and petroleum fuel manufacturing (-3.7%).
Intermediate Demand
The rise of 0.1% in the Intermediate demand index in the March quarter 2019 comprises a rise of 0.3% in the prices of domestically produced products and a fall of 1.1% in the prices of imported products.
The domestic component recorded rises in the prices for Electricity supply; gas supply; and water supply, sewerage and drainage services (+3.1%), Other agriculture (+4.6%) and Textile, leather, clothing and footwear manufacturing (+2.9%). Partly offsetting these rises were falls in the prices for Petroleum refining and petroleum fuel manufacturing (-10.2%), Real estate services (-1.9%) and Basic polymer manufacturing (-7.3%).
The imports component recorded falls in the prices for Oil and gas extraction (-9.5%), Petroleum refining and petroleum fuel manufacturing (-5.1%) and Pharmaceutical and medicinal product manufacturing (-10.5%). Partly offsetting these falls were rises in the prices for Textile, leather, clothing and footwear manufacturing (+0.5%), Motor vehicle and motor vehicle part manufacturing (+2.2%) and Polymer product manufacturing (+1.3%).
Preliminary Demand
The rise of 0.1% in the Preliminary demand index in the March quarter 2019 comprises a rise of 0.3% in the prices of domestically produced products and a fall of 0.8% in the prices of imported products.
The domestic component recorded rises in the prices for Electricity supply; gas supply; and water supply, sewerage and drainage services (+3.1%), Metal ore mining (+6.4%) and Other agriculture (+4.6%). Partly offsetting these rises were falls in the prices for Petroleum refining and petroleum fuel manufacturing (-10.4%), Basic polymer manufacturing (-7.3%) and Oil and gas extraction (-3.9%).
The imports component recorded falls in the prices for Oil and gas extraction (-9.3%), Petroleum refining and petroleum fuel manufacturing (-5.1%) and Other machinery and equipment manufacturing (-3.8%). Partly offsetting these falls were rises in the prices for Textile, leather, clothing and footwear manufacturing (+0.5%), Polymer product manufacturing (+1.6%) and Computer and electronic equipment manufacturing (+1.2%).
Comparison of SOP indexes
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