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MANUFACTURING INDUSTRIES PRODUCER PRICE INDEXES
During the December quarter 2008, the prices paid by manufacturers for material inputs decreased by 2.6%, while the prices they received for their outputs decreased by 2.3%. Through the year to December quarter 2008, prices of material inputs increased by 13.9%, while prices for their outputs increased by 6.7%.
Price decreases for products from oil and gas extraction (-25.0%) and grain, sheep and beef cattle farming (-5.4%) drove the falls in the cost of materials used in the manufacturing industries. Major contributors to these price decreases were domestic and imported crude oil and sheep and lambs. Price increases for products from iron and steel manufacturing (+35.8%) and metal ore mining (+8.8%) provided offsets to the price decreases.
The decrease in prices received for articles produced by manufacturing industries was mainly due to falls in the prices of outputs from petroleum refining (-22.0%), non-ferrous metal rolling, drawing, extruding n.e.c. (-36.7%) and basic non-ferrous metal manufacturing (-17.6%). Major contributors to these price decreases were unleaded petrol, diesel, copper and alloy products and nickel. These decreases were partly offset by increases in the prices received for outputs from fertiliser manufacturing (+25.1%) and meat processing (+4.9%).
CONSTRUCTION INDUSTRIES PRODUCER PRICE INDEXES
The price index for materials used in house building increased by 1.3% in the December quarter 2008. This follows consecutive price increases of 2.6% in the September quarter 2008, 1.5% in the June quarter 2008 and 1.3% in the March quarter 2008. The most significant increases were price rises for steel products (+10.1%), other metal products (+1.6%) and other materials (+1.5%).
Sydney (+1.9%) contributed the most to the overall weighted average of six capital cities quarterly movement, followed by Melbourne (+0.9%) and Brisbane (+1.5%). The largest percentage increase was for Adelaide (+2.3%). Increases were recorded for all the state capitals.
Through the year to December quarter 2008, the materials used in house building price index rose by 6.9%. This rise was mainly attributed to increases in prices paid for steel products (+50.3%), other metal products (+6.9%) and timber, board and joinery (+4.7%).
The price index for the output of the general construction industry decreased by 0.3% in the December quarter 2008 and increased by 5.1% through the year. The quarterly decrease was mainly influenced by a price fall in Victoria (-2.7%), which was partially offset by small increases in all the other states.
Non-residential building construction (-1.2%) contributed the most to the overall decrease in the December quarter 2008 general construction movement, followed by residential building construction n.e.c. (-0.4%). These decreases were partially offset by increases in house construction (+0.3%) and road and bridge construction (+1.2%).
SERVICE INDUSTRIES PRODUCER PRICE INDEXES
The property and business services industries price index increased by 0.5% in the December quarter 2008, and by 5.0% through the year to December quarter 2008.
The property services index increased by 0.4% in the December quarter 2008, and by 6.5% through the year to December quarter 2008. The main contributor to the increase was commercial property operators and developers (+0.7%). The business services index increased by 0.6% in the December quarter 2008 quarter and by 4.0% through the year to December quarter 2008. The main contributor to the increase was accounting services (+3.1%).
The transport (freight) and storage industries index increased by 2.6% in the December quarter 2008, and by 9.8% through the year to December quarter 2008. The main contributors to the increase were international sea transport (+20.5%), road freight transport (+1.3%), rail transport (+4.3%) and grain storage (+10.6%).
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