Service producer price index (SPPI) for storage and warehousing Industry description for SNI group SPPI report no 14
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1 Service producer price index (SPPI) for sorage and warehousing Indusry descripion for SNI group SPPI repor no 14 Kaarina Båh Chrisian Schoulz Service producer price index (SPPI), Price programme, Economic saisics, Saisics Sweden November 2005
2 1(9) 1 INTRODUCTION 2 2 BACKGROUND CONDITIONS FOR STATISTICAL WORK IN THE SPPI FIELD NATIONAL ACCOUNTS REQUIREMENTS FOR A PRICE INDEX 3 3 INDUSTRY DESCRIPTION STRUCTURE OF THE SUB-INDUSTRY AND STATISTICAL CLASSIFICATION 4 INDUSTRY 4 SPIN CPA KEY RATIOS AND FACTS ABOUT THE INDUSTRY PRICE FORMATION 6 4 TEST SURVEY STRUCTURE STATISTICAL TERMINOLOGY SAMPLING PROCEDURE DATA COLLECTION PROCEDURE EVALUATION OF THE TEST SURVEY 7 FOUR OF THE FOURTEEN ENTERPRISES IN THE SAMPLE PROVIDED SATISFACTORY RESPONSES TO THE FIRST SURVEY. SOME GOT IN TOUCH AND SAID THAT THEIR ACTIVITIES WERE IN ANOTHER INDUSTRY OR THAT THEY COULD NOT RESPOND TO THE SURVEY FOR SOME OTHER REASON TEST RESULTS AND CONCLUSIONS 7 5 DESIGN OF THE FUTURE SURVEY SAMPLING PROCEDURE DATA COLLECTION PROCEDURE PRICE MEASUREMENT METHODS ASSUMPTIONS, WEIGHTS AND INDEX CALCULATIONS 8
3 2(9) SPPI repor no 14: indusry descripion SNI Inroducion This repor deals wih he consrucion of price indices for he sorage and warehousing indusry. New Zealand, he USA, Ausralia, Mexico, Hong Kong and Japan already produce indices for his indusry. Knowledge of how he indusry is srucured (is size and concenraion), he size of he marke players, he number of enerprises, urnover and geographical disribuion of he indusry is needed o be able o calculae price indices. This knowledge has been acquired parly by compiling exising saisics and parly hrough discussions wih represenaives of he indusry in he form of rade organisaions and service producing enerprises. Price-seing mechanisms and ypical services have been sudied. The repor is se ou as follows: afer he background chaper, in which SPPI and general erms for service price indices are described, here is firsly a summary of he srucure of he indusry in quesion and is size in erms of he number of enerprises, sales urnovers, ec. Secondly, here is a descripion of he enerprises wihin he indusry and heir price formaion. The repor ends by oulining how he es survey was se up and he resuls and by describing he fuure survey. 2 Background In Sweden, as in he majoriy of OECD counries, service producion is responsible for a very subsanial share of gross domesic produc (GDP). There is a considerable need for price indices ha measure price rend in service-producing indusries. The service producer price index (SPPI) measures he price rend in indusries ha produce business services. The SPPI is a producer price index for services ha are primarily used by he Swedish Naional Accouns o calculae he fixed prices of service producion in GDP on he produc group level. Fixed prices are calculaed by esimaing changes in volume from daa on e.g. price changes based on he producion value in going prices. SPPI is a relaively new produc which is being coninuously developed in parallel o he producion of exising indices in order o cover he majoriy of service groups in Sweden's Naional Accouns and o fulfil new inernaional requiremens. SPPI covers he use of households, auhoriies and enerprises even when he focus is on B2B services. Household consumpion wihin he majoriy of he indusries currenly being surveyed or developed is relaively small. Consumer price indices (CPI) exis for indusries in which here is major household consumpion.
4 3(9) SPPI currenly covers producion by domesic producers for use wihin Sweden or for expor. A service is defined as expor when he payer of he service has an overseas address, regardless of where he service akes place. This may resul in a foreign Swedish subsidiary or branch office, wih an overseas address, exporing services from Sweden. Price indices for impored services are also needed for he naional accouns. A join Eurosa-OECD working group was esablished in 2002 in order o develop a common mehod for European service price indices and o provide pracical help o counries in he process of developing SPPI. A manual wih among oher hings pracical descripions of SPPI for differen indusries is under developmen. The manual refers o he exising SPPI manual for index heory and pracice. 1 SPPI developmen and producion work is currenly regulaed by Council Regulaion (EC) 1165/98 concerning shor erm saisics. 2.1 Condiions for saisical work in he SPPI field There are wo guidelines o be followed: SPPI is a producer price index and is inended for use o repor he average price rend in he service indusry producer chain, when he services in quesion are provided by domesic producers. The index figure is for one quarer and he price daa is o be an average per quarer. The forhcoming PPI manual, which is under developmen a he behes of he UN, will also include services. The manual is basically complee and i specifies ha measuremens should concern ransacion prices. The ransacion price is he acual price of he produc/service as paid by he buyer. 2.2 Naional Accouns requiremens for a price index Wihin he Swedish naional accouns sysem, services are considered he same as goods and boh are called 'producs'. The ideal index for calculaing fixed price and or for comparisons beween differen counries is - according o ESA 1995, Chaper 10 - Fischer's Index Formula. The drawback of Fisher's Formula is however ha i is no addiive, no even for he year closes o he base year. Therefore, he Paasche price index and Laspeyres volume index are preferable o Fischer. The same chaper admis, however, ha oher ypes of price index can be used for shorer ime comparisons, e.g. monh or quarer. Generally, his means ha changes in ransacion values mus be relaed o eiher a price change, a volume change or a combinaion of he wo. SPPI mus also ake changes in qualiy ino consideraion when measuring prices. 1 Producer Price Index Manual: Theory and pracice. Websie:hp://
5 4(9) This means ha price changes mus be purged of qualiy changes. For a more deailed descripion, please refer o he European sysem of accouns, ESA Furhermore, boh expor and impor prices need o be sudied wih regard o he Naional Accouns requiremen. (See above.) 3 Indusry descripion 3.1 Srucure of he sub-indusry and saisical classificaion Sorage and warehousing, SNI is par of SNI 63 - auxiliary ranspor aciviies; aciviies of ravel agencies. The indusries classified under his code are: Table 3: The saisical classificaion of he sub-indusry SNI Descripion Cargo handling Sorage and warehousing Oher auxiliary land ranspor aciviies Oher auxiliary waer ranspor aciviies Oher auxiliary air ranspor aciviies Aciviies of ravel agencies and our operaors; ouris assisance aciviies Aciviies of oher ranspor agencies Source: SNI 2002: Swedish sandard for indusry classificaion Sorage and warehousing is moreover broken down ino he following SPIN groups: Table 2: Sub-groups in sorage and warehousing. Indusry Spin 2002 CPA 2002 Sorage and warehousing Sorage of frozen/refrigeraed goods Sorage of liquids or gases Sorage of cereals Oher Sorage and warehousing Source: SPIN 2002: Srucure, SCB/ES. CPA sands for "Classificaion of Producs by Aciviies" and is he EU produc sandard. SPIN 2002 is is Swedish, SNI-adaped version.
6 5(9) 3.2 Key raios and facs abou he indusry This secion is based on daa for he Saisics Sweden Business Regiser (BR). The daa has been processed and enerprises wih far oo small a proporion of heir aciviies wihin he relevan sub-indusry have been screened ou. The number of persons employed in sorage and warehousing is jus over 3, Toal ne urnover in he sub-indusry is jus under SEK 6 billion. 3 Table 4: Sorage and warehousing: srucure by size caegory broken down by number of employees. Number Number of of Number of Ne urnover, % employees enerpris employees 4 % SEK million % es Toal Source: SCB Business Regiser The able above shows how he number of enerprises, number of employees and ne urnover variables are broken down ino differen size caegories. The oal number of employees in he enerprises is given for each caegory. The number of employees and urnover wihin he sorage and warehousing indusry are shown in bold ype. Mos of he enerprises (128) are o be found in he 0-4 employees size caegory. The enerprises in he smalles size caegory are of varying ypes. They can be self-sorage faciliies, wine cellars, poao cellars, small-scale logisics firms, freezer sorages and differen ypes of warehouses and erminals. The larges number of employees and larges urnover is o be found in he wo bigges caegories, enerprises wih employees and 250+ employees. The enerprises in he wo larges size caegories are disribuion and logisics subsidiaries linked o various paren manufacuring companies and a number of larger inernaional ranspor and logisics enerprises. The majoriy of enerprises in he middle size caegories are logisics, ranspor and erminal companies. The proporion of aciviies devoed o sorage and warehousing is greaes in he smalles and he larges size caegories, 92 and 74 per cen of aciviies respecively, whils in he four 2 There is no percenage break-down of aciviies in he sub-indusry for 35 of he 207 enerprises. These 35 have however ranked heir sub-indusries and 18 of hem have specified sorage and warehousing as heir mos imporan. 3 Turnover daa is missing for 34 of he 207 enerprises. Nine enerprises have a specified urnover of SEK zero. 4 Number of employees means average number of full-ime employees during he year.
7 6(9) middle size caegories he sub-indusry is responsible for abou 50 per cen of heir aciviies. 3.3 Price formaion This secion is based on visis, elephone conac and follow-up quesions o a number of large and small enerprises. A large proporion of he larges enerprises in sorage and warehousing are subsidiaries of large groups. On he sie visis, i has proven difficul for he enerprises o differeniae he price of sorage and warehousing from oher logisics services. This is paricularly rue for wholly-owned subsidiaries. For hese enerprises, prices are se in conracs ha ofen srech over 12 monhs. The idea is for he prices o cover he coss which he subsidiary has, bu no o generae any profi. This means ha he price flucuaion for hese enerprises is probably no represenaive for he indusry as a whole. The Naional Accouns sill wan hese enerprises o be included when calculaing price indices, however. Mos of he cos comprises ren and salaries. Independen enerprises also regulae heir price-seing vis-à-vis he cusomer in conracs ha ofen srech over 12 monhs. The price ofen follows a ren index and/or a salary index. Facors ha govern he price in he conrac are volume, ype of goods, sorage ime and picking coss. A cusomer requiremen for addiional services such as forwarding, secondary packing, labelling, refinemen, ec. will also increase he price. For many enerprises, following a number of conracs over ime seems o be a suiable mehod of measuring prices. 5 4 Tes survey srucure 4.1 Saisical erminology The objecs ha he survey is inended o measure, he arge objecs are sorage and warehousing aciviies provided by enerprises regisered in Sweden. The arge variable is he price for hese services ha he cusomer acually pays. Value-added ax (VAT) and oher axes are no included. The arge populaion comprises all enerprises in Sweden acive in he indusry. 5 See he "Mehodological guide for developing producer price indices for services" from he "Join OECD/Eurosa ask force" for a review of differen price measuremen mehods.
8 7(9) Saisics Sweden's ES/REG Business Regiser is used as he sample frame. 4.2 Sampling procedure The sample comprised 14 enerprises exraced from he Business Regiser. These were chosen so ha he sample had a good disribuion boh geographical and size-wise. The enerprises were asked o choose 1-5 conracs hemselves, which hey fel were represenaive of heir aciviies. As regards hese conracs, he enerprises were asked o specify, in addiion o he price, he ype of goods being sored, he cusomer who was pary o he conrac, volume, sorage ime, any oher services ha were included in he price and oher hings hey needed in order o keep he service consan. 4.3 Daa collecion procedure Informaion and forms were sen ou o he enerprises by normal mail. They were asked o reurn he forms in he samped-addressed envelope provided. 4.4 Evaluaion of he es survey Four of he foureen enerprises in he sample provided saisfacory responses o he firs survey. Some go in ouch and said ha heir aciviies were in anoher indusry or ha hey could no respond o he survey for some oher reason. 4.5 Tes resuls and conclusions Some enerprises are incorrecly classified in he Business Regiser, and we should be aware of his fac in he fuure survey. The enerprises ha are correcly classified and responded o he es survey have undersood he quesions and were able o submi useful price daa. Following a number of conracs over ime seems o be a reasonable mehod of measuring prices in his indusry, since mos of he aciviies are governed by conracs. None of he four enerprises ha responded as required made use of he possibiliy o specify somehing under "Oher" o keep he service consan. We sill feel ha i is imporan o reain his possibiliy. The lengh of each conrac along wih he above-menioned daa will be requesed in he fuure survey. This is o check ha all he conracs don' all expire a he same ime. 5 Design of he fuure survey 5.1 Sampling procedure Service price indices are produced once a quarer. The sample of enerprises will be drawn from he Business Regiser wih he help of a PPS sample of enerprises in SNI Enerprises are conaced o check ha heir aciviies include sorage and warehousing and o discuss which services are o be subjeced o price measuremen. Size of urnover and geographical disribuion will be aken ino consideraion when drawing he sample.
9 8(9) Tweny-five ou of 207 enerprises in he indusry will be included in he survey o sar wih. 5.2 Daa collecion procedure Passwords and user-ids will be sen ou by normal mail. The enerprises are o provide heir price daa on-line and his will be sored in a daabase. The producion sysem calculaes a geomerical Laspeyres index from he daabase. 5.3 Price measuremen mehods For he base period, enerprises are asked o choose a number of services/conracs ha can be considered represenaive of heir aciviies. We hen follow he price rend of he service/conrac in he subsequen quarers. The index figures refer o one quarer. If he service is performed more han once during he quarer, an average price for he quarer is requesed. When applying "conrac-price measuremen", i is imporan o exercise cauion regarding qualiy valuaion when conracs are exchanged. The qualiy aspec should be discussed wih he daa provider a his ime. "Quaniy adjusmen" and "Differences in producion coss" migh as well be used when adjusing qualiy. Non-response impuaion is bes done by allowing he price rend for he produc in quesion o follow oher producs in he indusry Assumpions, weighs and index calculaions The firs sep is o calculae a geomeric mean value for he price change in each enerprise. The enerprise's differen services are no muually weighed. Sep wo is o weigh ogeher a oal index for he indusry geomerically from he various business indices. The larges enerprises are weighed based on heir urnover and he smaller enerprises share he remaining weigh equally. Index calculaion Sep 1 is o calculae an index for each enerprise: I n n 1/ pa, i 0, a 0 i 1 p = = a, i where I 0,a = index wih a base poin of ime 0 for enerprise a a ime p, = price of service i, enerprise a a ime a i 6 For more informaion in qualiy valuaion and non-response impuing, see "Mehodological guide for developing producer price indices for services" from he Join OECD/Eurosa ask force.
10 9(9) 0 p a,i = price for service i, enerprise a, a base poin in ime Sep 2 is o weigh he business indices ogeher o form a oal index: I 0, T = m ( I0, j ) j= 1 w j where ime I 0,T = oal index wih base poin in ime 0 for he indusry a I, j 0 = index wih a base poin of enerprise j a ime w j = weigh for enerprise j
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