PPI Detailed Report BLS. Mining Manufacturing Services Agriculture Utilities Construction

Transcription

1 PPI Detailed Report BLS U.S. Department of Labor U.S. Bureau of Labor Statistics Mining Manufacturing Services Agriculture Utilities Construction

2 PPI Detailed Report Data for February 2012 Editors Vol. 16, No. 2 Joseph Kowal Antonio Lombardozzi Lana Borgie Brian Hergt Contents Page Producer Price es, February Charts Finished goods... 5 Intermediate goods 6 Crude goods... 7 Tables Producer Price es 1. Stage of processing 8 2. Selected commodity groupings by stage of process Selected stage of processing groupings, seasonally adjusted Net output of selected industries and industry groups Net output of selected industries and their products and service groupings and individual items Durability of product Special commodity groupings Material and supply inputs to construction industries Experimental final demand Experimental intermediate demand by commodity type Experimental intermediate demand by production flow Experimental selected commodity groupings by final demand category Experimental selected commodity groupings of intermediate demand by commodity type Experimental selected commodity groupings of intermediate demand by production flow Technical note

3 Producer Price Release Dates The following is the schedule of release dates for Producer Price data for News releases are issued at 8:30 a.m. eastern time on each release date. Reference Month Release Date January 2012 Feb. 16, 2012 February 2012 Mar. 15, 2012 March 2012 Apr. 12, 2012 April 2012 May 11, 2012 May 2012 June 13, 2012 June 2012 July 13, 2012 July 2012 Aug. 14, 2012 August 2012 Sep. 13, 2012 September 2012 Oct. 12, 2012 October 2012 Nov. 14, 2012 November 2012 Dec. 13, 2012 ii

4 Producer Price es February 2012 The Producer Price for finished goods advanced 0.4 percent in February, seasonally adjusted. Finished goods prices rose 0.1 percent in January and decreased 0.1 percent in December. At the earlier stages of processing, the index for intermediate goods moved up 0.7 percent and crude goods prices increased 0.4 percent. On an unadjusted basis, the finished goods index rose 3.3 percent for the 12 months ended February 2012, the smallest year-overyear rise since a similar 3.3-percent advance in August (See table A.) Stage-of-Processing Analysis Finished goods In February, the increase in finished goods prices was led by the index for finished energy goods, which moved up 1.3 percent. Prices for finished goods less foods and energy rose 0.2 percent. By contrast, the finished consumer foods index edged down 0.1 percent. Finished energy: Prices for finished energy goods advanced 1.3 percent in February after declining in each of the previous two months. A 4.3-percent jump in the gasoline index accounted for most of the increase. Advances in the indexes for residential electric power and home heating oil also contributed to the rise in finished energy goods prices. (See table 2.) Finished core: The index for finished goods less foods and energy moved up 0.2 percent in February, the third straight monthly increase. A third of the February rise can be traced to a 0.6-percent advance in prices for pharmaceutical preparations. An increase in the index for civilian aircraft also contributed to higher finished core prices. Finished foods: In February, the finished consumer foods index inched down 0.1 percent, the third consecutive monthly Chart 1. Monthly percent changes in the Producer Price for finished goods, seasonally adjusted: February 2011 February 2012 decrease. A 2.8-percent drop in prices for dairy products led the February decline in the finished consumer foods index. Intermediate goods The Producer Price for intermediate materials, supplies, and components moved up 0.7 percent in February following a 0.4-percent decline in January. Most of this advance can be attributed to higher prices for intermediate materials less foods and energy, which climbed 1.0 percent. The index for intermediate energy goods rose 0.3 percent. By contrast, prices for intermediate foods and feeds edged down 0.1 percent. For the 12 months ended in February, the intermediate goods index advanced 3.3 percent, the smallest year-over-year increase since a 2.9-percent rise in December (See table B.) Intermediate core: The index for intermediate goods less foods and energy moved up 1.0 percent in February after four consecutive declines. Sixty percent of this increase can be traced to the index for basic organic chemicals, which jumped 6.4 percent. Higher prices for nonferrous mill shapes and prepared paint also contributed to the advance in the intermediate core index. (See table 2.) Intermediate energy: Prices for intermediate energy goods advanced 0.3 percent in February after declining 1.4 percent a month earlier. A major factor in this rise was the index for diesel fuel, which increased 4.1 percent. Higher gasoline prices also contributed significantly to the advance in the intermediate energy goods index. Intermediate foods: Prices for intermediate foods and feeds edged down 0.1 percent in February, the third straight monthly decrease. A 1.6-percent drop in prices for meats was a significant contributor to the February decline. Lower prices for dairy products also were a major factor in the decrease in the intermediate foods index. Chart month percent changes in the Producer Price for finished goods, not seasonally adjusted: February 2011 February 2012 Percent change Percent change Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb'12 0 Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb'12 1

5 Chart 3. Monthly percent changes in the Producer Price for intermediate goods, seasonally adjusted: February 2011 February 2012 Chart month percent changes in the Producer Price for intermediate goods, not seasonally adjusted: February 2011 February 2012 Percent change Percent change Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb'12 0 Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb'12 2

6 Crude goods The Producer Price for crude materials for further processing advanced 0.4 percent in February. For the 3 months ending in February, crude goods prices moved up 0.4 percent compared with a 2.3-percent increase for the 3 months ending in November. On a monthly basis, the February index for crude foodstuffs and feedstuffs climbed 0.6 percent, and prices for crude energy materials moved up 0.3 percent. By contrast, the index for crude nonfood materials less energy declined 0.3 percent. (See table B.) Crude foods: The index for crude foodstuffs and feedstuffs increased 0.6 percent in February. From November to February, prices for crude foodstuffs and feedstuffs fell 0.4 percent, compared with a 1.6-percent decrease from August to November. Leading the monthly rise in February was the slaughter cattle index, which climbed 5.4 percent. Higher prices for slaughter poultry and soybeans also were factors in the advance in the crude foods index. (See table 2.) Crude energy: The Producer Price for crude energy materials moved up 0.3 percent in February. For the 3 months ending in February, prices for crude energy materials increased 0.9 percent following an 11.2-percent jump in the previous 3-month period. The February advance in the crude energy materials index is attributable to prices for crude petroleum, which rose 5.4 percent. Crude core: The index for crude nonfood materials less energy fell 0.3 percent in February. From November to February, crude core prices inched up 0.2 percent after decreasing 5.7 percent from August to November. In February, most of the monthly decline can be traced to a 6.4- percent drop in the index for carbon steel scrap. Lower corn prices also contributed to the decrease in the crude core index. 3

7 Chart 5. Monthly percent changes in the Producer Price for crude materials, seasonally adjusted: February 2011 February Percent change Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb' Chart month percent changes in the Producer Price for crude materials, not seasonally adjusted: February 2011 February 2012 Percent change Feb'11 Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb' Services Analysis Trade industries: The Producer Price for the net output of total trade industries edged down 0.1 percent in February after no change in the prior month. (Trade indexes measure changes in margins received by wholesalers and retailers.) Leading the February decline was an 11.7-percent decrease in margins received by discount department stores. Lower margins received by merchant wholesalers of durable goods and by electronic shopping and mail-order houses also contributed significantly to the decrease in the total trade industries index. Transportation and warehousing industries: The Producer Price for the net output of transportation and warehousing industries moved up 0.4 percent in February, the third consecutive increase. Almost half of the February gain can be attributed to a 2.3-percent advance in prices received by the U.S. Postal Service. Higher prices received for longdistance general freight trucking and by line-haul railroads also were factors in the February increase in the transportation and warehousing industries index. Traditional service industries: The Producer Price for the net output of total traditional service industries rose 0.2 percent in February subsequent to a 0.4-percent advance a month earlier. Accounting for thirty percent of the February increase, prices received by portfolio managers climbed 2.2 percent. Higher prices received by investment bankers and securities dealers and by non-casino hotels and motels also contributed to the February increase in the total traditional service industries index. 4

8 Chart 1. The Finished Goods and its component indexes, January 2007 through February 2012, 12-month percentage changes Percent change Panel A Panel B Finished goods Panel C Finished goods other than foods and energy Finished consumer foods 40 Panel D Finished energy goods

9 Chart 2. The Intermediate Goods and its component indexes, January 2007 through February 2012, 12-month percentage changes Percent change 20 Panel A Intermediate materials, supplies, and components Panel B Intermediate t materials less foods and energy Panel C Intermediate foods and feeds Panel D Intermediate energy goods

10 Chart 3. The Crude Goods and its component indexes, January 2007 through February 2012, 12-month percentage changes Percent change 60 Panel A Crude goods for further processing Panel B Crude nonfood materials less energy Panel C Crude foodstuffs and feedstuffs Panel D Crude energy materials Source: U.S. Bureau of Labor Statistics, Producer Price Program 7

11 Table 1. Producer price indexes and percent changes by stage of processing [1982=100] Grouping Relative importance Dec Unadjusted index Oct. Jan. Feb. Feb Unadjusted percent change to Feb from: Jan Seasonally adjusted percent change from: Nov. to Dec. Dec. to Jan. Jan. to Feb. Finished goods Finished consumer goods Finished consumer foods Crude Processed Finished consumer goods, excluding foods Nondurable goods less foods Durable goods Capital equipment Manufacturing industries Nonmanufacturing industries Intermediate materials, supplies, and components Materials and components for manufacturing Materials for food manufacturing Materials for nondurable manufacturing Materials for durable manufacturing Components for manufacturing Materials and components for construction Processed fuels and lubricants Manufacturing industries Nonmanufacturing industries Containers Supplies Manufacturing industries Nonmanufacturing industries Feeds Other supplies Crude materials for further processing Foodstuffs and feedstuffs Nonfood materials Nonfood materials except fuel Manufacturing Construction Crude fuel Manufacturing industries Nonmanufacturing industries Special groupings Finished goods, excluding foods Intermediate materials less foods and feeds Intermediate foods and feeds Crude materials less agricultural products 3, Finished energy goods Finished goods less energy Finished consumer goods less energy Finished goods less foods and energy Finished consumer goods less foods and energy Consumer nondurable goods less foods and energy Intermediate energy goods Intermediate materials less energy Intermediate materials less foods and energy Crude energy materials Crude materials less energy Crude nonfood materials less energy Comprehensive relative importance figures are initially computed after the publication of December indexes and are recalculated after final December indexes are available. Individual items and subtotals may not add exactly to totals because of rounding differences. 2 The indexes for October 2011 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3 Includes crude petroleum. 4 Excludes crude petroleum. 5 Percent of total finished goods. 6 Percent of total intermediate materials. 7 Formerly titled Crude materials for further processing, excluding crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco. 8 Percent of total crude materials. 8

12 Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing [1982=100, unless otherwise indicated] Grouping Unadjusted index Unadjusted percent change to Feb from: Oct Jan Feb Feb Jan Seasonally adjusted percent change from: Finished goods Finished consumer goods Finished consumer foods Fresh fruits and melons Fresh and dry vegetables Eggs for fresh use (Dec 1991=100) Bakery products Milled rice Pasta products (June 1985=100) Beef and veal Pork Processed young chickens Processed turkeys Finfish and shellfish Dairy products Processed fruits and vegetables Confectionery end products Soft drinks Roasted coffee Shortening and cooking oils Frozen specialties Finished consumer goods excluding foods Alcoholic beverages Pet food Women s, girls, & infants apparel (Dec 2003=100) Men s and boys apparel (Dec 2003=100) Textile housefurnishings Footwear Residential electric power (Dec 1990=100) Residential gas (Dec 1990=100) Gasoline Home heating oil and distillates Pharmaceutical preparations (June 2001=100) Soaps and synthetic detergents Cleaning and polishing products (June 1983=100) Cosmetics and other toilet preparations Tires, tubes, tread, etc Sanitary paper products Household furniture Floor coverings Household appliances Home electronic equipment Lawn and garden equip, ex tractors Silverware and hollowware (Dec 2011=100) A Passenger cars Travel trailers and campers (June 1984=100) Toys, games, and children s vehicles Sporting and athletic goods Tobacco products Mobile homes Jewelry, platinum, & karat gold Costume jewelry and novelties Capital equipment Agricultural machinery and equipment Construction machinery and equipment Metal cutting machine tools Metal forming machine tools Tools, dies, jigs, fixtures, and ind. molds Pumps, compressors, and equipment Industrial material handling equipment Electronic computers (Dec 2004=100) Nov. to Dec. Dec. to Jan. Jan. to Feb. 9

13 Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing Continued [1982=100, unless otherwise indicated] Capital equipment - Continued Grouping Unadjusted index Unadjusted percent change to Feb from: Oct Jan Feb Feb Jan Seasonally adjusted percent change from: Textile machinery Paper industries machinery (June 1982=100) Printing trades machinery Transformers and power regulators Communication & related equip (Dec 1985=100) X-ray and electromedical equipment Oil field and gas field machinery Mining machinery and equipment Office and store machines and equipment Commercial furniture Light motor trucks Heavy motor trucks Truck trailers Civilian aircraft (Dec 1985=100) Ships (Dec 1985=100) Railroad equipment Signs and advertising displays (Dec 1985=100) A Intermediate materials, supplies, and components Intermediate foods and feeds Flour Refined sugar and byproducts Confectionery materials Soft drink beverage bases (Dec 1985=100) Processed eggs Prepared animal feeds Intermediate materials less foods and feeds Synthetic fibers Processed yarns and threads Gray fabrics Finished fabrics Industrial textile products Leather Liquefied petroleum gas Commercial electric power Industrial electric power Commercial natural gas (Dec 1990=100) Industrial natural gas (Dec 1990=100) Natural gas to electric utilities (Dec 1990=100) Jet fuels No 2 Diesel fuel Residual fuels Basic inorganic chemicals Basic organic chemicals Prepared paint Paint materials Medicinal and botanical chemicals Fats and oils, inedible Mixed fertilizers Nitrogenates Phosphates Other agricultural chemicals Plastic resins and materials Synthetic rubber Plastic construction products Unsupported plastic film, sheet, & other shapes Plastic parts and components for manufacturing Softwood lumber Hardwood lumber Millwork Plywood Treated wood (June 1985=100) Nov. to Dec. Dec. to Jan. Jan. to Feb. 10

14 Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing Continued [1982=100, unless otherwise indicated] Grouping Intermediate materials less foods and feeds - Continued Unadjusted index Unadjusted percent change to Feb from: Oct Jan Feb Feb Jan Seasonally adjusted percent change from: Woodpulp Paper Paperboard Paper boxes and containers Building paper and board Commercial printing (June 1982=100) Foundry and forge shop products Steel mill products Primary nonferrous metals Aluminum mill shapes Copper and brass mill shapes Titanium mill shapes Nonferrous wire and cable Metal containers Hardware Plumbing fixtures and brass fittings Heating equipment Fabricated structural metal products Fabricated ferrous wire products (June 1982=100) Other misc metal products Mechanical power transmission equipment Air conditioning and refrigeration equipment Metal valves, ex.fluid power (Dec. 1982=100) Ball and roller bearings Wiring devices Motors, generators, motor generator sets Switchgear, switchboard, etc, equipment Electronic components and accessories Internal combustion engines Machine shop products Flat glass Cement Concrete products Asphalt felts and coatings Gypsum products Glass containers Motor vehicle parts Aircraft engines & engine parts (Dec 1985=100) Aircraft parts & aux. equip.,nec (June 1985=100) Photographic supplies Medical/surgical/personal aid devices Crude materials for further processing Crude foodstuffs and feedstuffs Wheat Corn Slaughter cattle Slaughter hogs Slaughter broilers/fryers Slaughter turkeys Raw milk Soybeans Cane sugar, raw Crude nonfood materials Raw cotton Hides and skins Coal Natural gas Crude petroleum Logs, timber, etc Wastepaper Nov. to Dec. Dec. to Jan. Jan. to Feb. 11

15 Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing Continued [1982=100, unless otherwise indicated] Grouping Crude nonfood materials - Continued Unadjusted index Unadjusted percent change to Feb from: Oct Jan Feb Feb Jan Seasonally adjusted percent change from: Iron ore Iron and steel scrap Nonferrous metal ores (Dec 1983=100) Copper base scrap Aluminum base scrap Construction sand, gravel, and crushed stone Industrial sand Nov. to Dec. Dec. to Jan. Jan. to Feb. 1 The indexes for October 2011 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 2 Not seasonally adjusted. - Data not available. 12

16 Table 3. Producer price indexes for selected stage-of-processing groupings, seasonally adjusted [1982=100] Year and month Finished goods Finished consumer foods Finished consumer goods excluding foods Capital equipment Intermediate materials Intermediate foods and feeds Intermediate materials excluding foods Crude materials Crude foodstuffs and feedstuffs Crude nonfood materials 2008: January February March April May June July August September October November December : January February March April May June July August September October November December : January February March April May June July August September October November December : January February March April May June July August September October November December : January February NOTE: All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for October 2011 have been recalculated to incorporate late reports and corrections by respondents. 13

17 Table 4. Producer price indexes for the net output of selected industries and industry groups, not seasonally adjusted Industry 1 Industry base Percent change to Feb from: Oct Jan Feb Feb Jan Total mining, utilities, and manufacturing industries / Total mining industries / Oil and gas extraction / Mining (except oil & gas) / Mining support activities / Utilities / Total manufacturing industries / Food mfg / Beverage & tobacco mfg / Textile mills / Textile product mills / Apparel manufacturing / Leather and allied product manufacturing / Wood product manufacturing / Paper manufacturing / Printing and related support activities / Petroleum and coal products manufacturing / Chemical mfg / Plastics and rubber products mfg / Nonmetallic mineral product mfg / Primary metal mfg / Fabricated metal product mfg / Machinery mfg / Computer & electronic product mfg / Electrical equipment, appliance & component mfg / Transportation equipment mfg / Furniture & related product mfg / Miscellaneous mfg / Total trade industries / Total wholesale trade industries / Merchant wholesalers, durable goods / Merchant wholesalers, nondurable goods / Wholesale trade agents and brokers / Total retail trade industries / Motor vehicle and parts dealers / Furniture and home furnishings stores / Electronics and appliance stores / Bldg material and garden equip and supp dealers / Food and beverage stores / Health and personal care stores / Gasoline stations / Clothing and clothing accessories stores / Sporting goods hobby, book and music stores / General merchandise stores / Florists / Office supplies, stationery and gift stores / Manufactured (mobile) home dealers / Nonstore retailers / Transportation and warehousing industries / Transportation industries / Air transportation / Rail transportation / Water transportation / Truck transportation / Pipeline transportation of crude oil / Refined petroleum product pipeline transport / Transportation support activities / Delivery and warehouse industries / U.S. Postal Service / Couriers and messengers / Warehousing and storage / Total traditional service industries / Information / Publishing industries, except Internet / Broadcasting, except Internet / Telecommunications /