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According to the provisional results of a survey released today (June 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 0.4% in the first quarter of 2010 over a year earlier, following a 4.9% year-on-year decrease in the fourth quarter of 2009. The corresponding producer price index increased by 4.0% in the first quarter of 2010 over a year earlier, following a 0.3% year-on-year decrease in the fourth quarter of 2009.
The index of industrial production for sewerage, waste management and remediation activities increased by 2.5% in the first quarter of 2010 over a year earlier, following a 1.5% year-on-year increase in the fourth quarter of 2009. The corresponding producer price index increased by 2.5% in the first quarter of 2010 over a year earlier, following a 1.6% year-on-year decrease in the fourth quarter of 2009.
Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes. The price changes are measured by the producer price indices compiled from data on producer prices of industrial goods/services collected from the same survey.
Comparing the first quarter of 2010 with a year earlier, the food, beverages and tobacco industry had the largest increase in output volume (+6.4%), followed by the metal, computer, electronic and optical products, machinery and equipment industry (+4.6%).
On the other hand, decreases in output volume were recorded in the wearing apparel industry (-20.1%); the textiles industry (-13.4%) and the paper products, printing and reproduction of recorded media industry (-3.0%) in the first quarter of 2010 compared with a year earlier.
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased by 2.9% in the first quarter of 2010 over the fourth quarter of 2009.
Producer price indices reflect changes in the prices of local output. They measure changes in the actual prices (net of any discounts or rebates allowed to buyers, plus any surcharges) received by producers. Transportation and other incidental charges are not included.
Comparing the first quarter of 2010 with a year earlier, the metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer prices (+8.2%), followed by the food, beverages and tobacco industry (+2.3%).
On the other hand, decreases in producer prices were seen in the paper products, printing and reproduction of recorded media industry (-1.8%); the textiles industry (-1.5%) and the wearing apparel industry (-0.5%) in the first quarter of 2010 compared with a year earlier.
Table 1 shows the year-on-year percentage changes in the indices of industrial production by industry group. Table 2 shows the year-on-year percentage changes in the producer price indices for industrial sector by industry group.
The revised figures on indices of industrial production and producer price indices for industrial sector for the first quarter of 2010 will be released at the website of the C&SD (www.censtatd.gov.hk/hong_kong_statistics/index.jsp) and relevant publications of the Department starting from July 23, 2010.
The classification of industrial establishments follows the Hong Kong Standard Industrial Classification (HSIC), which is used in various economic surveys for classifying economic units into different industry classes. Upon the implementation of the new HSIC Version 2.0 by the C&SD in October 2008, the Quarterly Survey of Industrial Production has been enhanced to adopt the HSIC Version 2.0 in compiling the industrial production statistics. Starting from the first quarter of 2009, all the indices of industrial production and producer price indices for industrial sector are compiled based on the HSIC Version 2.0, and the base period of these indices has been changed to 2008 (i.e. with the quarterly average of these indices in 2008 taken as 100).
The series of indices of industrial production and producer price indices for manufacturing industries under the HSIC Version 2.0 have also been backcasted to the first quarter of 2005. Readers who are interested in the backcasted series or have enquiries about the survey results may contact the Industrial Production and Tourism Statistics Section of the C&SD (Tel.: 2805 6643; Fax: 2123 1048; E-mail: ind-production@censtatd.gov.hk).
Users can download the reports on "Quarterly Index of Industrial Production, 1st Quarter 2010", and "Quarterly Producer Price Index for Industrial Sector, 1st Quarter 2010" free of charge from the website of the C&SD at (www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/commerce_and_industry/index.jsp).
Ends/Monday, June 14, 2010
Issued at HKT 16:32
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