Australia PPI Gains 2.3% On Year In Q2
01 August 2014 - 12:32PM
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Final demand producer prices climbed 2.3 percent on year in the
second quarter of 2014, the Australian Bureau of Statistics said on
Friday - slowing from the 2.5 percent increase in the previous
three months.
On a quarterly sequential basis, final demand producer prices
dipped 0.1 percent after climbing 0.9 percent in the first
quarter.
Domestic producer prices were up 1.9 percent on year and 0.1
percent on quarter, while import producer prices jumped 6.4 percent
on year and dipped 1.5 percent on quarter.
The quarterly decline was mainly due to falls in the prices
received for other transport equipment manufacturing (-3.5
percent), computer and electronic equipment manufacturing (-3.4
percent) and other agriculture (-5.7 percent).
It was partly offset by rises in the prices received for
building construction (+1.2 percent) and pharmaceutical and
medicinal product manufacturing (+5.2 percent).
Intermediate demand PPI was up 2.7 percent on year and down 0.5
percent on quarter.
Domestic producer prices were up 2.3 percent on year and down
0.1 percent on quarter, while import prices spiked 6.8 percent on
year and fell 2.7 percent on year.
The quarterly decline was mainly due to falls in the prices
received for petroleum refining and petroleum fuel manufacturing
(-9.5 percent), oil and gas extraction (-4.1 percent) and coal
mining (-10.1 percent).
It was partly offset by rises in the prices received for sheep,
beef cattle and grain farming; and dairy cattle farming (+6.5
percent) and printing and printing support services (+3.8
percent).
Preliminary demand PPI climbed 3.0 percent on year and shed 0.8
percent on quarter.
Domestic producer prices gained 2.5 percent on year and eased
0.4 percent on quarter, while import prices advanced 6.6 percent on
year but lost 2.9 percent on quarter.
The quarterly decline was mainly due to falls in the prices
received for petroleum refining and petroleum fuel manufacturing
(-10.7 percent), metal ore mining (-6.8 percent) and oil and gas
extraction (-4.1 percent).
It was partly offset by rises in the prices received for sheep,
beef cattle and grain farming; and dairy cattle farming (+4.5
percent) and printing and printing support services (+3.6
percent).
Also on Friday, the Australia Industry Group said in its
Performance of Manufacturing Index that the manufacturing sector in
Australia expanded in July.
For the first time in nine months, the reading moved above the
boom-or-bust score of 50 that separates expansion from
contraction.
Among the individual components of the survey, new orders and
employment - two of the most significant factors - both expanded in
July.
"The high currency is maintaining intense pressure on exporters
and import-competing businesses facing weak demand and low prices
for locally made products," AiG chief executive Innes Willox said
in a statement.