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1. The index of industrial production for the manufacturing sector as a whole decreased by 8.8% in the first quarter of 2003 compared with a year earlier, while the corresponding producer price index decreased by 1.3%, according to the provisional results of a survey released today (June 19) by the Census and Statistics Department.
2. Industrial production indices reflect changes in the volume of local manufacturing output after discounting the effect of price changes. The price changes are measured by the producer price indices for manufacturing industries compiled from data on producer prices of industrial goods/services collected from the same survey.
3. Comparing the first quarter of 2003 with the first quarter of 2002, the electrical and electronic products, machinery, professional equipment and optical goods industry had the largest fall in output (-28.0%), followed by the basic metals and fabricated metal products industry (-17.3%), the food, beverages and tobacco industry (-13.8%), the textiles (including knitting) industry (-0.8%), and the wearing apparel (except footwear) industry (-0.1%).
4. On the other hand, output of the paper products and printing industry and the chemical, rubber, plastic and non-metallic mineral products industry increased by 11.7% and 3.4% respectively in the first quarter of 2003 over a year earlier.
5. On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole fell by 2.2% in the first quarter of 2003 compared with the fourth quarter of 2002.
6. Producer price indices reflect the prices of local manufacturing output. They measure 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.
7. Comparing the first quarter of 2003 with the first quarter of 2002, producer prices in the fabricated metal products (except machinery and equipment) industry had the largest decline (-3.5%), followed by those in the machinery, equipment, apparatus, parts and components industry (-3.3%), the paper products and printing industry (-2.1%), the consumer electrical and electronic products industry (-1.5%), the wearing apparel (except footwear) industry (-0.8%), and the textiles (including knitting) industry (-0.8%).
8. On the other hand, producer price in the plastic products industry edged up by 0.8% in the first quarter of 2003 over a year earlier.
9. Comparing the first quarter of 2003 with the fourth quarter of 2002, the producer price index for the manufacturing sector as a whole decreased by 1.2%.
10. Table 1 (text version) shows the year-on-year percentage changes in the indices of industrial production by industry group and selected component industries. Table 2 (text version) shows the year-on-year percentage changes in the producer price indices for manufacturing industries.
11. More detailed statistics are given in the "Quarterly Index of Industrial Production, 1st Quarter 2003" report and the "Quarterly Producer Price Indices for Manufacturing Industries, 1st Quarter 2003" report, which are now on sale at $11 and $10 per copy respectively. The above publications and other publications of the Census and Statistics Department can be purchased in person from:
(i) Government Publications Centre, Ground Floor, Low Block, Queensway Government Offices, 66 Queensway, Hong Kong (Tel.: 2537 1910); or
(ii) Publications Unit of the Census and Statistics Department, 19th Floor, Wanchai Tower, 12 Harbour Road, Wan Chai, Hong Kong (Tel.: 2582 3025).
12. Internet users may purchase the publications online at the "Statistical Bookstore, Hong Kong" (Address: http://www.statisticalbookstore.gov.hk) with payment made instantly. Softcopies of the publications purchased are available for immediate downloading while hardcopies purchased will be delivered by mail. Subscription to regular publications and advance ordering of upcoming releases are also available. The Statistical Bookstore is hosted on the ESD portal (Address: http://www.esd.gov.hk) together with other public services.
13. A mail order form for ordering or arranging subscription to hardcopies of publications is available in most publications of the Census and Statistics Department. It may be completed and sent back together with a cheque or bank draft covering all necessary cost and postage. The order form is also available for downloading from the website of the Department (Address : http://www.info.gov.hk/censtatd/eng/service_desk/forms_index.html).
14. For enquiries about the survey results, please contact the Industrial Production Statistics Section of the Census and Statistics Department at telephone 2805 6643 or email ind-production@censtatd.gov.hk.
End/Thursday, June 19, 2003
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