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According to the provisional results of a survey released today (March 15) by the Census and Statistics Department (C&SD), the index of industrial production for the manufacturing sector as a whole decreased by 1.4% in the fourth quarter of 2006 from a year earlier, following a 0.6% year-on-year decrease in the third quarter of 2006.
The corresponding producer price index increased by 2.0% in the fourth quarter of 2006 over a year earlier, as compared with a 2.6% year-on-year increase in the third quarter of 2006.
Indices of industrial production 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.
Comparing the fourth quarter of 2006 with a year earlier, the wearing apparel (except footwear) industry had the largest decrease in output (-33.8%), followed by the textiles (including knitting) industry (-12.2%), and the electrical and electronic products, machinery, professional equipment and optical goods industry (-9.6%).
On the other hand, increases in output were recorded for the food, beverages and tobacco industry (+14.7%), the chemical, rubber, plastic and non-metallic mineral products industry (+13.8%), the paper products and printing industry (+2.7%), and the basic metals and fabricated metal products industry (+0.8%) in the fourth quarter of 2006 over a year earlier.
On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole increased by 1.2% in the fourth quarter of 2006 over the third quarter of 2006.
For 2006 as a whole, the index of industrial production for the manufacturing sector increased by 2.2% compared with 2005.
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.
Comparing the fourth quarter of 2006 with a year earlier, the fabricated metal products (except machinery and equipment) industry had the largest increase in producer prices (+10.7%), followed by the plastic products industry (+6.4%), the paper products and printing industry (+2.3%), and the textiles (including knitting) industry (+0.1%).
On the other hand, decreases in producer prices were noted in the machinery, equipment, apparatus, parts and components industry (-6.4%), the consumer electrical and electronic products industry (-4.9%), and the wearing apparel (except footwear) industry (-0.5%) in the fourth quarter of 2006 compared with a year earlier.
Comparing the fourth quarter of 2006 with the third quarter of 2006, the producer price index for the manufacturing sector as a whole increased by 0.2%.
For 2006 as a whole, the producer price index for the manufacturing sector increased by 2.3% compared with 2005.
Table 1 shows the year-on-year percentage changes in the indices of industrial production by industry group and selected component industry. Table 2 shows the year-on-year percentage changes in the producer price indices by industry group.
The reports containing analysis of survey results for the fourth quarter of 2006 are available in both print version and download version (in PDF format). Both the "Quarterly Index of Industrial Production, 4th Quarter 2006" report and the "Quarterly Producer Price Indices for Manufacturing Industries, 4th Quarter 2006" report can be downloaded free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the C&SD. The print versions of the publications can be purchased in the following ways:
(i) Purchase in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025). The price of each of the two reports is $8 per copy.
(ii) Complete a mail order form which is available for downloading from the website of C&SD (www.censtatd.gov.hk/products_and_services/other_services/ provision_of_stat/mail_ordering_of_publications/index.jsp) and return it to C&SD. Prices (excluding postage) are the same as above.
(iii) Purchase online at the Statistical Bookstore or the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount and are sold at 85% of their original prices. After discount, the price (excluding postage) of each of the two reports is $6.8 per copy.
Enquiries about the survey results may be directed to the Industrial Production and Tourism Statistics Section of the C&SD at Tel: 2805 6643 or email address ind-production@censtatd.gov.hk.
Ends/Thursday, March 15, 2007
Issued at HKT 16:15
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