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According to the provisional results of a survey released today (March 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 1.3% in the fourth quarter of 2012 compared with the same quarter of 2011, following a 0.1% year-on-year decrease in the third quarter of 2012. The corresponding producer price index decreased by 1.1% in the fourth quarter of 2012 over the same quarter of 2011, following a 1.4% year-on-year decrease in the third quarter of 2012.
The index of industrial production for sewerage, waste management and remediation activities increased by 6.2% in the fourth quarter of 2012 over the same quarter of 2011, following a 7.6% year-on-year increase in the third quarter of 2012. The corresponding producer price index increased by 4.7% in the fourth quarter of 2012 over the same quarter of 2011, following a 3.6% year-on-year increase in the third quarter of 2012.
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 fourth quarter of 2012 with the fourth quarter of 2011, decreases in output volume were recorded in the wearing apparel industry (-22.8%); the paper products, printing and reproduction of recorded media industry (-5.1%); and the textiles industry (-0.9%). On the other hand, increases in output volume were recorded in the food, beverages and tobacco industry (+5.3%) and the metal, computer, electronic and optical products, machinery and equipment industry (+0.7%).
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased by 0.2% in the fourth quarter of 2012 as compared with the third quarter of 2012.
For 2012 as a whole, the index of industrial production for manufacturing industries decreased by 0.8% while the index of industrial production for sewerage, waste management and remediation activities increased by 6.2% compared with 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 for their output. Transportation and other incidental charges are not included.
Comparing the fourth quarter of 2012 with the fourth quarter of 2011, decreases in producer prices were recorded in the metal, computer, electronic and optical products, machinery and equipment industry (-5.6%); and the textiles industry (-0.6%). On the other hand, the wearing apparel industry had the largest increase in producer prices (+6.3%), followed by the food, beverages and tobacco industry (+3.5%); and the paper products, printing and reproduction of recorded media industry (+0.9%).
For 2012 as a whole, the producer price indices for manufacturing industries as well as sewerage, waste management and remediation activities increased by 0.1% and 3.6% respectively compared with 2011.
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 fourth quarter of 2012 and the whole year of 2012 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department starting from April 19, 2013.
Users can download the reports on "Quarterly Index of Industrial Production, 4th Quarter 2012", and "Quarterly Producer Price Index for Industrial Sector, 4th Quarter 2012" free of charge from the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002).
Readers who have enquiries about the survey results may contact the Industrial Production Statistics Section of the C&SD (Tel.: 2805 6643; Fax: 2123 1048; e-mail: ind-production@censtatd.gov.hk).
Ends/Thursday, March 14, 2013
Issued at HKT 16:30
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