Data Collection
BPI September 2018 quarter
Methodology
This BPI release includes the September 2018 quarter PPI, CGPI, and FEPI data.
Response rates for September 2018 quarter
Key firms Achieved: 99.1 percent Target: 100 percent
Non-key firms Achieved: 96.1 percent Target: 96 percent
Revisions
We have incorporated several revisions to residential and non-residential buildings in this release.
The revisions reflect updated data that impacts historical results. They affect the PPI and CGPI from the March 2011 and March 2006 quarters, respectively, but the higher level indexes (CGPI ‘All Groups’ and PPI Inputs and outputs ‘All Industries’) have not been affected.
These revisions will be incorporated in Gross domestic product: September 2018 quarter (which will have a minor impact on construction activity and gross fixed capital formation) and in Value of building work put in place: September 2018 quarter (which will have a small impact on volumes in some periods).
| Revisions | |||
|---|---|---|---|
| Series name | Series reference | Largest difference | Period (1) |
| CGPI - Residential buildings | CEPQ.S2GA | 1 | 2017.2 |
| CGPI - Non-residential buildings | CEPQ.S2GB | 6 | 2018.2 |
| CGPI - Hostels, boarding houses | CEPQ.S2AB | 3 | 2009.2 |
| CGPI - Shops, offices | CEPQ.S2BA | 10 | 2018.2 |
| CGPI - Warehouses, factories | CEPQ.S2BB | -5 | 2006.4 |
| CGPI - Other non-residential buildings | CEPQ.S2BI | 8 | 2018.2 |
| PPI Outputs Level 1 - Construction | PPIQ.SQUEE0000 | 2 | 2018.2 |
| PPI Outputs Level 2 - Construction | PPIQ.SQUEE1000 | 2 | 2018.2 |
| PPI Outputs Level 3 - Building construction | PPIQ.SQUEE1100 | 2 | 2018.2 |
| PPI Outputs Level 4 - Non-Residential Building Construction | PPIQ.SQUEE1130 | 3 | 2018.2 |
| PPI Outputs Level 3 - Construction Services | PPIQ.SQUEE1300 | 2 | 2018.2 |
| PPI Published Commodity - Non-residential building construction - inputs | PPIQ.SQNC61200 | 4 | 2018.2 |
| PPI Published Commodity - Electrical installation services - inputs | PPIQ.SQNC61610 | 4 | 2018.2 |
| PPI Published Commodity - Heating, ventilation, and air conditioning installation services - inputs | PPIQ.SQNC61630 | 13 | 2017.3 |
| PPI Published Commodity - Building completion and finishing services - inputs | PPIQ.SQNC61700 | 4 | 2018.1 |
| PPI Published Commodity - Rent of plant, machinery, and equipment - inputs | PPIQ.SQNC82120 | 3 | 2018.2 |
| PPI Published Commodity - Non-residential building construction - outputs | PPIQ.SQUC61200 | 4 | 2018.2 |
| PPI Published Commodity - Electrical installation services - outputs | PPIQ.SQUC61610 | 4 | 2018.2 |
| PPI Published Commodity - Heating, ventilation, and air conditioning installation services - outputs | PPIQ.SQUC61630 | 13 | 2017.3 |
| PPI Published Commodity - Building completion and finishing services - outputs | PPIQ.SQUC61700 | 4 | 2018.1 |
| PPI Published Commodity - Rent of plant, machinery, and equipment - outputs | PPIQ.SQUC82120 | 3 | 2018.2 |
(1) Where the largest difference persists for more than one period, the most recent period has been listed.
Exchange rates
The New Zealand dollar depreciated against four key currencies (US dollar, Australian dollar, Japanese yen, and the Euro) and appreciated against the UK pound when comparing the mid-point of the September 2018 and June 2018 quarters. A depreciating NZ dollar has an upward influence on the prices New Zealand producers pay for imported goods and services, and the prices received for exports. When calculating the PPI and CGPI, we generally use prices collected on the 15th day of the middle month in the quarter to represent the entire quarter. When these prices are collected in foreign currencies, they are converted to NZ dollars using the exchange rate at the mid-point of the quarter. The table below shows changes in the value of the NZ dollar in foreign currency denominations, from the mid-point of the June 2018 quarter to the mid-point of the September 2018 quarter.
| Exchange rates | |||||
|---|---|---|---|---|---|
| Bank selling rates for NZ$1.00 | |||||
| USA (NZ$:US$) | UK (NZ$:pound) | Australia (NZ$:AUS$) | Japan (NZ$:yen) | Europe (NZ$:euro) | |
| 15 May 2018 | 0.6802 | 0.5007 | 0.8985 | 74.1433 | 0.5663 |
| 15 August 2018 | 0.6419 | 0.5043 | 0.8849 | 71.1525 | 0.5634 |
| Percentage change | -5.6 | 0.7 | -1.5 | -4.0 | -0.5 |
| Source: Westpac Banking Corporation |
For a limited number of prices (e.g. petroleum product manufacturing) we use quarterly average prices. For these prices, the relevant exchange-rate movements are based on the average exchange rate for the quarter.
en-NZ
