STAGE OF PRODUCTION COMMENTARY
STAGE OF PRODUCTION (SOP) OVERVIEW
In the March quarter 2011, the final (Stage 3) index recorded an increase of 1.2%, the intermediate (Stage 2) index recorded an increase of 2.3% and the preliminary (Stage 1) index recorded an increase of 2.6%. Through the year to March quarter 2011, the final (Stage 3) index increased by 2.9%, the intermediate (Stage 2) index increased by 4.4% and the preliminary (Stage 1) index increased by 5.5%.
The increase of 1.2% in the final (Stage 3) index reflected a rise of 1.4% in the price of domestically produced items, partly offset by a fall of 0.3% in the price of imported items. The domestic component recorded rises in the prices received for petroleum refining (+12.7%), other agriculture (+13.7%) and electricity, gas and water (+2.7%). Partly offsetting these rises were falls in the prices received for commercial fishing (-7.6%). The imports component decreased due to falls in the prices for industrial machinery and equipment manufacturing (-2.6%), motor vehicle and part manufacturing (-1.2%) and other chemical product manufacturing (-3.5%). Partly offsetting these falls were rises in the prices for petroleum refining (+14.8%).
The increase of 2.3% in the intermediate (Stage 2) index reflected a rise of 2.3% in the price of domestically produced items and a rise of 2.0% in the price of imported items. The domestic component recorded rises in the prices received for grain, sheep, beef and dairy cattle farming (+9.4%), petroleum refining (+15.1%) and oil and gas extraction (+11.7%). Partly offsetting these rises were falls in the prices received for iron and steel manufacturing (-2.5%). The imports component increased due to rises in the prices for oil and gas extraction (+10.6%), petroleum refining (+10.4%) and basic chemical manufacturing (+3.6%). Partly offsetting these rises were falls in the prices for motor vehicle and part manufacturing (-3.2%).
The increase of 2.6% in the preliminary (Stage 1) index reflected a rise of 2.4% in the price of domestically produced items and a rise of 3.9% in the price of imported items. The domestic component recorded rises in the prices received for petroleum refining (+15.1%), grain, sheep, beef and dairy cattle farming (+10.6%) and oil and gas extraction (+11.7%). Partly offsetting these rises were falls in the prices received for iron and steel manufacturing (-2.5%). The imports component increased due to rises in the prices for oil and gas extraction (+10.6%), petroleum refining (+10.2%) and basic chemical manufacturing (+3.6%). Partly offsetting these rises were falls in the prices for motor vehicle and part manufacturing (-3.2%).
COMPARISON OF SOP INDEXES: Base: 1998-99 = 100.0
WHERE TO FIND ADDITIONAL COMMENTARY
Additional commentary for Producer Price Indexes is available in the entry for
Producer Price Indexes, Australia (cat. no. 6427.0) on the ABS website <
https://www.abs.gov.au>.
The additional commentary includes:
- Manufacturing industries producer price indexes
- Materials used in manufacturing industries
- Articles produced by manufacturing industries
- Construction industries producer price indexes
- Materials used in house building
- Output of the construction industry
- Service industries producer price indexes
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