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6427.0 - Producer Price Indexes, Australia, Mar 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 26/04/2005   
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MARCH QUARTER KEY FIGURES

Dec Qtr 04 to Mar Qtr 05
Mar Qtr 04 to Mar Qtr 05
STAGE OF PRODUCTION
% change
% change

Final (Stage 3) commodities (excl. exports)
0.0
3.7
Domestic
0.4
4.4
Imports
-2.2
-0.7
Intermediate (Stage 2) commodities
-0.5
4.4
Domestic
-0.3
4.0
Imports
-2.2
7.0
Preliminary (Stage 1) commodities
-0.7
5.7
Domestic
-0.4
4.9
Imports
-2.6
11.7

Final Stage, Base: 1998-99 = 100.0
Graph: Final Stage, Base 1998-99 = 100.0

Final Stage, Quarterly % change
Graph: Final Stage, Quarterly % change


MARCH QUARTER KEY POINTS

FINAL (STAGE 3) COMMODITIES

  • The final (Stage 3) index recorded no change in the March quarter 2005.
  • The domestic component rose 0.4%, mainly due to increases in building construction and beverage and malt manufacturing. These increases were partially offset by decreases in petroleum refining.
  • The imports component fell -2.2%, due to exchange rate driven price falls for both consumer and capital goods, including electronic equipment, motor vehicles and parts, tobacco products and industrial machinery, which were partially offset by increases in dairy products.

INTERMEDIATE (STAGE 2) COMMODITIES
  • The intermediate (Stage 2) index fell -0.5% in the March quarter 2005.
  • The domestic component fell -0.3%, mainly due to decreases in petroleum refining and oil and gas extraction.
  • The imports component fell -2.2%, due to oil and gas extraction, electronic equipment, motor vehicles and parts, industrial machinery, rubber products and textiles, clothing and footwear. These decreases were partially offset by increases in iron and steel manufacturing.

PRELIMINARY (STAGE 1) COMMODITIES
  • The preliminary (Stage 1) index fell -0.7% in the March quarter 2005.
  • The domestic component fell -0.4% mainly due to petroleum refining and oil and gas extraction. These decreases were partially offset by increases in property operators and developers, and iron and steel manufacturing.
  • The imports component fell -2.6%, due to exchange rate driven price decreases for both consumer and capital goods, including oil and gas extraction, electronic equipment, industrial machinery, rubber products and motor vehicle and parts. These decreases were partially offset by increases in iron and steel.

NOTES

CHANGES IN THIS ISSUE
There are no changes in this issue.

RELATED STATISTICS
For more information about statistics in this publication and about other 'ABS data available on request', contact Steve Whennan on Canberra (02) 6252 6251, or email <steve.whennan@abs.gov.au>.

INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Steve Whennan on Canberra (02) 6252 6251.


SUMMARY COMMENTARY

COMMENTARY

STAGE OF PRODUCTION OVERVIEW

The final (Stage 3) index showed no movement in the March quarter 2005, while the preliminary (Stage 1) index fell -0.7% and the intermediate (Stage 2) index fell -0.5%. Through the year to March quarter 2005, the preliminary (Stage 1) index increased by 5.7%, followed by an increase of 4.4% for the intermediate (Stage 2) index and an increase of 3.7% for the final (Stage 3) index.

The zero change in the final (Stage 3) index results from an increase of 0.4% in the price of domestically produced items being offset by a fall of -2.2% in the price of imported items. The domestic component increased due to price rises for building construction and beverage and malt manufacturing, which were mostly offset by falls in petroleum refining, other agriculture and commercial fishing. The imports component fell due to price falls for electronic equipment, motor vehicles and parts, tobacco products and industrial machinery, which were partially offset by price rises for dairy products.

The fall of -0.5% in the intermediate (Stage 2) index reflects a fall of -0.3% in the price of domestically produced items and a fall of -2.2% in the price of imported items. The domestic component fell due to price falls for refined petroleum products and oil and gas extraction, which were partially offset by price increases for property operators and developers and iron and steel manufacturing. The import component fell due to price falls for oil and gas extraction, electronic equipment, motor vehicles and parts, and industrial machinery, which were partially offset by price rises for iron and steel manufacturing.

The fall of -0.7% in the preliminary (Stage 1) index reflects a fall of -0.4% in the price of domestically produced items and a fall of -2.6% in the price of imported items. The domestic component fell due to price falls for petroleum products and oil and gas extraction, which were partially offset by price increases for property operators and developers and iron and steel manufacturing. The import component fell due to price falls for oil and gas extraction, electronic equipment, industarial machinery, rubber products and motor vehicles and parts, which were partially offset by price rises for iron and steel manufacturing and refined petroleum products.


COMPARISON OF SOP INDEXES
Graph: Comparison of SOP Indexes



MANUFACTURING INDUSTRIES PRODUCER PRICE INDEXES

During the March quarter 2005, the prices paid by manufacturers for their material inputs fell by -3.0%, while the prices they received for their outputs fell by -0.9%. These falls were partially driven by the appreciation of the Australian dollar against all major currencies. The input price index increased by 8.7% through the year to March quarter 2005 and the output price index increased by 6.0% during the same period.

Falls in the price of crude oil (both domestic and imported), cattle and calves, and plastic materials were the main contributors to the quarterly result for the materials used in manufacturing industries index. Price increases for flat rolled iron and steel products, and whole milk products provided some offsets.

Lower prices for petrol, diesel and kerosene accounted for the bulk of the decrease in the articles produced by manufacturing industries index for the March quarter 2005. These decreases were partially offset by increases in prices for cigarettes and tobacco, zinc and alumina.

ARTICLES PRODUCED BY MANUFACTURING INDUSTRIES: All Groups, Quarterly % change
Graph: Articles Produced By Manufacturing Industries: All Groups, Quarterly % change

MATERIALS USED IN MANUFACTURING INDUSTRIES: All Groups, Quarterly % change
Graph: Materials Used In Manufacturing industries: All Groups, Quarterly % change




CONSTRUCTION INDUSTRIES PRODUCER PRICE INDEXES

The price indexes for materials used in house building increased by 0.7% in the March quarter 2005, reflecting price increases for a range of materials. The most significant contributors to the increase were softwood, plastic pipes and fittings, terracotta tiles and concrete tiles. Small offsetting price falls were recorded for clay bricks and ceramic sanitaryware. Increases were recorded in all state capitals, ranging from 0.2% in Brisbane to 1.2% in Perth.

Through the year to March quarter 2005, the materials used in house building index rose 3.6%.

Materials Used in House Building: All Groups, Quarterly % change
Graph: Materials Used in House Building: All Groups, Quarterly % change



The price index for the output of the general construction industry increased by 1.8% in the March quarter 2005 and by 7.6% through the year to March quarter 2005. Increases were registered in the quarter for all component industries, with the index for non-residential building construction being the largest contributor, followed by house construction, residential building construction other than houses, and road and bridge construction.

Contributing to the movement in the general construction industry price indexes this quarter were increases in subcontractor rates and the cost of labour and material inputs. The increase in subcontractor rates and labour costs was mainly due to continuing high demand for building trades and shortages of skilled labour. An increase in the cost of steel products, cement and concrete products had a considerable impact on material inputs.

Output of the General Construction industry: All Groups, Quarterly % change
Graph: Output of the General Construction industry: All Groups, Quarterly % change




SERVICE INDUSTRIES PRODUCER PRICE INDEXES

The property and business services industries price index increased by 0.6% in the March quarter 2005 and by 2.1% through the year to March quarter 2005. The property services price index increased by 1.2% this quarter with increases for both industrial property operators and retail property operators. These increases were partially offset by small decreases for short-term motor vehicle hiring and real estate management fees. Through the year to March quarter 2005, the property services index rose 3.6%.

Property and Business Services industries: All Groups, Quarterly % change
Graph: Property and Business Services industries: All Groups, Quarterly % change



The business services index rose 0.3% in the March quarter 2005 and by 1.4% through the year to March quarter 2005. The main contributors to the increase were contract staff services and accounting services. These increases were partially offset by decreases in computer consultancy and business management consultancy services.

The transport (freight) and storage industries index fell by -0.4% in the March quarter 2005. The most significant contributors with price falls were international air and sea freight, and rail bulk freight. The most significant contributors with price increases were road freight furniture removal and express road freight. Through the year to March quarter 2005 the transport (freight) and storage industries index rose by 3.0%.

Transport (Freight) and Storage industries: All Groups, Quarterly % change
Graph: Transport (Freight) and Storage industries: All Groups, Quarterly % change


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