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According to the provisional results of a survey released today (March 11) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 5.7% in the fourth quarter of 2010 over the same quarter of 2009, following a 5.4% year-on-year increase in the third quarter of 2010. The corresponding producer price index increased by 7.6% in the fourth quarter of 2010 over the same quarter of 2009, following a 6.4% year-on-year increase in the third quarter of 2010.
The index of industrial production for sewerage, waste management and remediation activities increased by 5.8% in the fourth quarter of 2010 over the same quarter of 2009, following a 8.4% year-on-year increase in the third quarter of 2010. The corresponding producer price index increased by 6.3% in the fourth quarter of 2010 over the same quarter of 2009, following a 5.4% year-on-year increase in the third quarter of 2010.
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 fourth quarter of 2010 with the fourth quarter of 2009, the metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in output volume (+9.6%), followed by the food, beverages and tobacco industry (+6.4%); and the paper products, printing and reproduction of recorded media industry (+6.2%). On the other hand, decreases in output volume were recorded in the textiles industry (-7.9%) and the wearing apparel industry (-6.0%) in the fourth quarter of 2010 compared with the same quarter of 2009.
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole edged down by 0.1% in the fourth quarter of 2010 as compared with the third quarter of 2010.
For 2010 as a whole, the indices of industrial production for manufacturing industries and sewerage, waste management and remediation activities increased by 3.5% and 4.9% respectively compared with 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 fourth quarter of 2010 with the fourth quarter of 2009, increases in producer prices were recorded for all industry groupings. The metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer prices (+12.2%), followed by the textiles industry (+6.5%); the food, beverages and tobacco industry (+2.3%); the wearing apparel industry (+1.3%); and the paper products, printing and reproduction of recorded media industry (+0.6%).
For 2010 as a whole, the producer price indices for manufacturing industries and sewerage, waste management and remediation activities increased by 6.0% and 4.9% respectively compared with 2009.
Table 1 shows the year-on-year percentage changes in the indices of industrial production by selected industry grouping. Table 2 shows the year-on-year percentage changes in the producer price indices for industrial sector by selected industry grouping.
The revised figures on indices of industrial production and producer price indices for industrial sector for the fourth quarter of 2010 and the whole year 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 April 20, 2011.
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 industrial production statistics. Starting from the first quarter of 2009, all 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).
Users can download the reports on "Quarterly Index of Industrial Production, 4th Quarter 2010", and "Quarterly Producer Price Index for Industrial Sector, 4th 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).
Readers who 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).
Ends/Friday, March 11, 2011
Issued at HKT 16:34
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