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The producer price index (PPI) for manufacturing sector as a whole in the second quarter of 1998 decreased by 2.0% compared with the same quarter of 1997, according to the results of a survey released today (Friday) by the Census and Statistics Department.
Analysed by industry, producer prices of the plastic products industry declined the most , by 5.1%.
Decreases in producer prices were also recorded in the machinery, equipment, apparatus, parts and components industry (-4.5%), the consumer electrical and electronic products industry (-3.2%) , the textiles (including knitting) industry (-2.2%) and the paper products and printing industry (-1.5%).
On the other hand, producer prices of the fabricated metal products (except machinery and equipment) industry and the wearing apparel (except footwear) industry increased slightly, by 0.3% and 0.5% respectively.
Comparing the second quarter of 1998 with the first quarter of 1998, the PPI for the manufacturing sector recorded a slight decrease of 0.7%.
The PPI, with 1990 as the base period, reflects changes in the prices of local manufacturing output. Producer prices refer to 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.
The PPIs for manufacturing industries are compiled from data on producer prices of industrial goods/services collected from the Quarterly Survey of Industrial Production. The survey also collects production data for the compilation of the indices of industrial production which measure the changes in volume of local manufacturing output.
More detailed information can be obtained from the "Quarterly Producer Price Indices for Manufacturing Industries, 2nd Quarter 1998" report, which is on sale at $6 a copy at the Government Publications Sales Centre, ground floor, Low Block, Queensway Government Offices, 66 Queensway, Hong Kong, or at the Census and Statistics Department Publications Unit, 19th floor, Wanchai Tower, 12 Harbour Road, Wan Chai.
Enquiries about the indices may be directed to the General Economic Surveys Section of the Census and Statistics Department on 2805 6108.
End/Friday, October 9, 1998
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