STAGE OF PRODUCTION COMMENTARY
STAGE OF PRODUCTION (SOP) OVERVIEW
In the December quarter 2018, the Final demand index rose 0.5%, the Intermediate demand index rose 0.4% and the Preliminary demand index rose 0.4%. Through the year to the December quarter 2018, the Final demand index rose 2.0%, the Intermediate demand index rose 3.8% and the Preliminary demand index rose 4.3%.
Final Demand
The rise of 0.5% in the Final demand index in the December quarter 2018 reflected a rise of 0.4% in the prices of domestically produced products and a rise of 0.6% in the prices of imported products.
The domestic component recorded rises in the prices for Heavy and civil engineering construction (+1.0%), Building construction (+0.4%) and Accommodation (+6.4%). Partly offsetting these rises were falls in the prices for Petroleum refining and petroleum fuel manufacturing (-10.3%) and Bakery product manufacturing (-3.4%).
The imports component recorded rises in the prices for Computer and electronic equipment manufacturing (+2.1%), Other transport equipment manufacturing (+1.3%) and Specialised machinery and equipment manufacturing (+1.0%). Partly offsetting these rises were falls in the prices for Petroleum refining (-11.4%), Oil and fat manufacturing (-4.4%) and Professional, photographic and scientific equipment manufacturing (-0.4%).
Intermediate Demand
The rise of 0.4% in the Intermediate demand index in the December quarter 2018 reflected a rise of 0.4% 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 Other agriculture (+5.2%), Meat and meat product manufacturing (+2.4%) and Road freight transport (+0.6%). Partly offsetting these rises were falls in the prices for Oil and gas extraction (-4.2%), Basic non-ferrous metal manufacturing (-3.6%) and Electricity supply; gas supply; and water supply, sewerage and drainage services (-0.4%).
The imports component recorded rises in the prices for Textile, leather, clothing and footwear manufacturing (+1.9%), Computer and electronic equipment manufacturing (+2.8%) and Electrical equipment manufacturing (+2.5%). Partly offsetting these rises were falls in the prices for Petroleum refining and petroleum fuel manufacturing (-2.5%), Cleaning compound and toiletry preparation manufacturing (-3.5%) and Basic non-ferrous metal manufacturing (-1.9%).
Preliminary Demand
The rise of 0.4% in the Preliminary demand index in the December quarter 2018 reflected a rise of 0.4% in the prices of domestically produced products and a rise of 0.5% in the prices of imported products.
The domestic component recorded rises in the prices for Other transport equipment manufacturing (+6.4%), Metal ore mining (+5.7%) and Other agriculture (+4.6%). Partly offsetting these rises were falls in the prices for Oil and gas extraction (-3.3%), Petroleum refining and petroleum fuel manufacturing (-3.0%) and Sheep, beef cattle and grain farming; and dairy cattle farming (-1.4%).
The imports component recorded rises in the prices for Textile, leather, clothing and footwear manufacturing (+1.9%), Computer and electronic equipment manufacturing (+2.7%) and Electrical equipment and appliance manufacturing (+1.4%). Partly offsetting these rises were falls in the prices for Petroleum refining and petroleum fuel manufacturing (-3.5%), Cleaning compound and toiletry preparation manufacturing (-7.5%) and Basic non-ferrous metal product manufacturing (-1.9%).
Comparison of SOP indexes
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