April 26, 2024 01:34 GMT
Australia Q1 PPI +0.9%; Most Industries Rise
AUSTRALIA DATA
MNI (Singapore)
Final demand (excluding exports)
- Rose 0.9% this quarter.
- Rose 4.3% over the past twelve months.
The main contributors to quarterly growth in Final demand were:
- Property operators (+2.1%), driven by fees linked to increased rents as demand for rental dwellings outstrips supply.
- Tertiary education (+5.3%), due to rising operating costs and higher tuition fees.
- Residential building construction (+1.3%), due to ongoing skilled labour and material shortages, particularly for the finishing stages of house building.
- Non-residential building construction (+1.8%), driven by competition with other sectors for skilled labour and materials, and increasing margins applied to manage resource availability risk.
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