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STAGE OF PRODUCTION COMMENTARY


STAGE OF PRODUCTION (SOP) OVERVIEW

In the June quarter 2015, the Final demand index rose 0.3%, the Intermediate demand index rose 0.7% and the Preliminary demand index rose 0.6%. Through the year to the June quarter 2015, the Final demand index rose 1.1%, the Intermediate demand index rose 0.1% and the Preliminary demand index fell 1.0%.

The rise of 0.3% in the Final demand index in the June quarter 2015 reflected a rise of 0.3% 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 petroleum refining and petroleum fuel manufacturing (+16.4%) and building construction (+0.8%). Partly offsetting these rises were falls in the prices for accommodation (–14.4%) and other agricultural products (–6.3%). The imports component recorded rises in the prices for petroleum refining and petroleum fuel manufacturing (+26.9%) and motor vehicle and motor vehicle part manufacturing (+1.2%). Partly offsetting these rises were falls in the prices for pharmaceutical and medicinal product manufacturing (-5.0%), domestic appliance manufacturing (–1.7%) and electrical equipment manufacturing (–1.5%).

The rise of 0.7% in the Intermediate demand index in the June quarter 2015 reflected a rise of 0.5% in the prices of domestically produced products and a rise of 1.6% in the prices of imported products. The domestic component recorded rises in the prices received for motor vehicle and motor vehicle part manufacturing (+10.4%), petroleum refining and petroleum fuel manufacturing (+10.1%) and grain, sheep, beef and dairy farming (+6.3%). Offsetting these rises were falls in coal mining (-8.9%). The imports component recorded rises in the prices for oil and gas extraction (+15.4%), petroleum refining and petroleum fuel manufacturing (+13.8%). Partly offsetting these rises were falls in the prices for basic polymer manufacturing (-12.7%) and polymer product manufacturing (-2.1%).

The rise of 0.6% in the Preliminary demand index in the June quarter 2015 reflected a rise of 0.4% in the prices of domestically produced products and a rise of 1.7% in the prices of imported products. The domestic component recorded rises in the prices for grain, sheep, beef and dairy farming (+5.8%), petroleum refining and petroleum fuel manufacturing (+9.9%) and oil and gas extraction (+8.2%). Partly offsetting these rises were falls in the prices for coal mining (-8.9%) and accommodation (-11.5%). The imports component recorded rises in the prices for oil and gas extraction (+15.4%) and petroleum refining, petroleum fuel manufacturing (+14.1%). Partly offsetting these rises were falls in the prices for basic polymer manufacturing (-11.7%).

Comparison of SOP indexes