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Australia's Q3 producer price index up 1.1 pct from Q2 vs consensus 1.0 pct rise


Published : Mon, 22 Oct 2007 02:44
By : Agencies
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SYDNEY (Thomson Financial) - The final producer price index for commodities, excluding exports, was up 1.1 percent in the third quarter from the second quarter and was up 2.4 percent year-on-year, the Australian Bureau of Statistics (ABS) said Monday.

The consensus forecast among analysts was for a 1.0 percent rise in the PPI quarter-on-quarter, making a 2.2 percent rise year-on-year.

The bureau said the domestic index was 1.5 percent higher quarter-on-quarter and up 3.7 percent year-on-year while the import component was 1.5 percent lower quarter-on-quarter and 5.5 percent lower year-on-year.

In second quarter, the final producer price index rose 1.0 percent from the first quarter and was up 2.3 percent on the previous year.

The ABS said the rise in the domestic component was mainly due to increases in the cost of building construction and some agricultural products.

It said the fall in the import component was due to decreases petroleum refining prices and electronic equipment prices.

The ABS provided the following table of quarter-on-quarter percentage changes in the components of the PPI in the second quarter:

Final commodities (excluding exports) - plus 1.1

Domestic - plus 1.5

Imports - minus 1.5

Intermediate commodities - plus 1.1

Domestic - plus 1.4

Imports - minus 0.3

Preliminary commodities - plus 1.0

Domestic - plus 1.1

Imports - plus 0.7

bruce.hextall@thomson.com

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bhx/ng

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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