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Australia PPI +1.4% in Q2 On Building Construction Output

AUSTRALIA DATA
MNI (Singapore)

Final demand (excluding exports)

  • Australia final demand (excluding exports) rose 1.4% this quarter, compared with the 1.6% growth in Q1, slower than the 4.9% increase in Q1.
  • PPI rose 5.6% over the past twelve months.
  • Output of building construction (+3.9%), driven by continuing supply constraints for timber and metals, high freight costs and labour shortages.
  • Petroleum refining and petroleum fuel manufacturing (+31.5%) due to a decrease in global crude oil supplies and increased demand in response to easing COVID19 restrictions.
  • Heavy and civil engineering construction (+2.8%), due to increases in diesel and material prices coupled with skilled trade shortages and high freight costs.
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