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According to the provisional results of a survey released today (September 14) by the Census and Statistics Department, in the second quarter of 2007, the index of industrial production for the manufacturing sector as a whole decreased by 2.3% compared with a year earlier, following a 1.5% year-on-year decrease in the first quarter of 2007. The corresponding producer price index increased by 2.6% in the second quarter of 2007 over a year earlier, as compared with a 2.5% year-on-year increase in the first quarter of 2007.
Indices of industrial production reflect changes in the volume of local manufacturing output after discounting the effect of price changes. The price changes are measured by the producer price indices for manufacturing industries compiled from data on producer prices of industrial goods/services collected from the same survey.
Comparing the second quarter of 2007 with a year earlier, the wearing apparel (except footwear) industry had the largest decrease in output (-28.1%), followed by the electrical and electronic products, machinery, professional equipment and optical goods industry (-14.5%) and the textiles (including knitting) industry (-12.2%).
On the other hand, increases in output were recorded for the food, beverages and tobacco industry (+19.4%), the chemical, rubber, plastic and non-metallic mineral products industry (+12.7%), and the paper products and printing industry (+2.8%) in the second quarter of 2007 over a year earlier.
On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole decreased by 1.5% in the second quarter of 2007 as compared with the first quarter of 2007.
Producer price indices reflect the prices of local manufacturing output. They measure the actual prices (net of any discounts or rebates allowed to buyers, plus any surcharges) received by manufacturers. Transportation and other incidental charges are not included.
Comparing the second quarter of 2007 with a year earlier, the fabricated metal products (except machinery and equipment) industry had the largest increase in producer prices (+4.8%), followed by the plastic products industry (+3.3%), the textiles (including knitting) industry (+1.8%), the paper products and printing industry (+1.2%), and the machinery, equipment, apparatus, parts and components industry (+1.0%).
On the other hand, producer prices in the consumer electrical and electronic products industry decreased by 0.4% in the second quarter of 2007 compared with a year earlier. Meanwhile, producer prices in the wearing apparel (except footwear) industry remained virtually unchanged.
Comparing the second quarter of 2007 with the first quarter of 2007, the producer price index for the manufacturing sector as a whole increased by 0.8%.
Table 1 shows the year-on-year percentage changes in the indices of industrial production by industry group and selected component industry. Table 2 shows the year-on-year percentage changes in the producer price indices by industry group.
The reports containing analysis of survey results for the second quarter of 2007 are available in both print version and download version (in PDF format). Both the "Quarterly Index of Industrial Production, 2nd Quarter 2007" report and the "Quarterly Producer Price Indices for Manufacturing Industries, 2nd Quarter 2007" report can be downloaded free of charge at the Website of the Census and Statistics Department (C&SD) (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp). The print versions of the publications can be purchased in the following ways:
(i) Purchase in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025). The price of each of the two reports is $8 per copy.
(ii) Complete a mail order form which is available for downloading from the website of C&SD (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp) and return it to C&SD. Prices (excluding postage) are the same as above.
(iii) Purchase online at the Statistical Bookstore (www.statisticalbookstore.gov.hk) or the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount and are sold at 85% of their original prices. After discount, the price (excluding postage) of each of the two reports is $6.8 per copy.
Enquiries about the survey results may be directed to the Industrial Production and Tourism Statistics Section of the C&SD at Tel. 2805 6643 or email address ind-production@censtatd.gov.hk.
Ends/Friday, September 14, 2007
Issued at HKT 16:19
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