Net output price indexes for mining, manufacturing, and services industries
Mining. The producer price index for the Net Output of Total Mining Industries declined 5.8 percent in December, following a 13.6-percent increase in the prior month. (Net output price indexes are not seasonally adjusted.) Leading this downturn, prices received by the natural gas liquid extraction industry fell 12.7 percent, after posting a 34.1-percent gain in November. The industry indexes for crude petroleum and natural gas extraction, oil and gas operations support activities, and support activities for coal mining also turned down in December, while prices received by the industry for gold ore mining rose less than they did in the preceding month. By contrast, the rate of increase in the industry index for oil and gas well drilling climbed from 1.2 percent in November to 3.5 percent in December. Prices received by the industries for iron ore mining and bituminous coal underground mining rose, after showing no change a month earlier, while the industry indexes for potash, soda, and borate mineral mining and for bituminous coal and lignite surface mining went up, compared with decreases in November. In December, the producer price index for the Net Output of Total Mining Industries was 170.0 (December 1984=100). Prices received by the mining sector advanced 31.8 percent in 2004, after increasing 13.4 percent in 2003.Manufacturing. The producer price index for the Net Output of Total Manufacturing Industries fell 0.9 percent in December, following a 0.3-percent decrease in the previous month. Contributing most significantly to this faster rate of decline, the industry group index for petroleum and coal products manufacturing dropped 13.0 percent in December, after moving down 3.5 percent in the preceding month. Prices received by manufacturers of furniture and related products and primary metals advanced less than they did in November. The industry group indexes for textile mills and printing and related support activities turned down, while prices received by the textile product mills industry group showed no change in December, following gains in the prior month. Alternatively, the industry group index for food manufacturers moved up 0.8 percent in December, after remaining unchanged in the previous month. Prices received by the industry group for electrical equipment and appliances also rose, following no change in November. The industry group indexes for plastic and rubber products manufacturing and chemical manufacturing increased more in December than they did a month earlier, while prices received by producers of transportation equipment edged up, following declines in November. In December, the producer price index for the Net Output of Total Manufacturing Industries was 144.7 (December 1984=100). For the 12 months ended December 2004, prices received by the manufacturing sector increased 5.1 percent, compared with a 2.8-percent advance in 2003.
Services. Among services industries in December, prices received by the industry for investment banking and securities dealing edged down 0.2 percent, after rising 1.9 percent in the preceding month. The industry indexes for direct life insurance carriers, long distance general freight trucking (truckload), hotels (except casino hotels) and motels, temporary help services, lessors of nonresidential buildings (except miniwarehouse), and television broadcasting also turned down, following increases in November. Prices received by the general medical and surgical hospitals industry rose at a slower rate than they did in the previous month. By contrast, the industry group index for scheduled passenger air transportation moved up 1.3 percent in December, compared with a 1.2-percent decline in the prior month. Prices received by the industries for employee leasing services, local general freight trucking, and residential property managers also turned up, while the industry indexes for portfolio management and scheduled freight air transportation increased more than they did in November.
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