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According to the provisional results of a survey released today (September 15) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 2.0% in the second quarter of 2011 over a year earlier, following a 3.5% year-on-year increase in the first quarter of 2011. The corresponding producer price index increased by 8.9% in the second quarter of 2011 over a year earlier, following a 8.2% year-on-year increase in the first quarter of 2011.
The index of industrial production for sewerage, waste management and remediation activities increased by 8.7% in the second quarter of 2011 over a year earlier, following a 10.0% year-on-year increase in the first quarter of 2011. The corresponding producer price index increased by 8.8% in the second quarter of 2011 over a year earlier, following a 6.8% year-on-year increase in the first quarter of 2011.
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 selected industrial goods/services collected in the same survey.
Comparing the industrial production in respect of major manufacturing industries in the second quarter of 2011 with that a year earlier, increases in output volume were recorded in the food, beverages and tobacco industry (+9.8%); and the paper products, printing and reproduction of recorded media industry (+1.3%).
On the other hand, decreases in output volume were recorded in the textiles industry (-13.5%); the wearing apparel industry (-9.6%) and the metal, computer, electronic and optical products, machinery and equipment industry (-9.4%) in the second quarter of 2011 compared with a year earlier.
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 0.6% in the second quarter of 2011 as compared with the first quarter of 2011.
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 second quarter of 2011 with a year earlier, increases in producer prices were recorded for all major manufacturing industries. The metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer prices (+14.4%), followed by the textiles industry (+10.6%); the food, beverages and tobacco industry (+5.2%); the paper products, printing and reproduction of recorded media industry (+2.5%); and the wearing apparel industry (+2.3%).
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 the industrial sector by selected industry grouping.
The revised figures on indices of industrial production and producer price indices for the industrial sector for the second quarter of 2011 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 October 21, 2011.
The classification of industrial establishments follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
Users can download the reports on "Quarterly Index of Industrial Production, Second Quarter 2011", and "Quarterly Producer Price Index for Industrial Sector, Second Quarter 2011" free of charge from the website of the C&SD (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/Thursday, September 15, 2011
Issued at HKT 16:37
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