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Australia Q3 PPI Up; +1.1% Q/Q

AUSTRALIA DATA
MNI (Singapore)
  • Australia PPI rose 1.1% q/q and 2.9% y/y in September quarter, after rising 0.7% q/q and 2.2% y/y in June quarter.
  • The main contributors to quarterly growth in Final demand were:
    • Heavy and civil engineering construction (+2.1%), due to rises in wages and materials supported by increased public sector investment stimulus.
    • Output of building construction (+2.2%), due to builders continuing to pass through increases in material and trade prices, supported by continued strong demand for housing.
    • Petroleum refining and petroleum fuel manufacturing (+11.8%), due to rising global crude oil demand and delays in OPEC+ oil agreement to raise production.
Energy BulletsCommodities
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