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According to the provisional results of a survey released today (June 13) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 3.5% in the first quarter of 2011 over a year earlier, following a 5.7% year-on-year increase in the fourth quarter of 2010. The corresponding producer price index increased by 8.2% in the first quarter of 2011 over a year earlier, following a 7.6% year-on-year increase in the fourth quarter of 2010.
The index of industrial production for sewerage, waste management and remediation activities increased by 10.0% in the first quarter of 2011 over a year earlier, following a 5.8 % year-on-year increase in the fourth quarter of 2010. The corresponding producer price index increased by 6.8% in the first quarter of 2011 over a year earlier, following a 6.3% year-on-year increase in the fourth quarter of 2010.
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 first quarter of 2011 with a year earlier, the food, beverages and tobacco industry had the largest increase in output volume (+6.8%), followed by the metal, computer, electronic and optical products, machinery and equipment industry (+5.3%); and the paper products, printing and reproduction of recorded media industry (+2.9%).
On the other hand, decreases in output volume were recorded in the textiles industry (-11.2%) and the wearing apparel industry (-5.3%) in the first quarter of 2011 compared with a year earlier.
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased by 0.9% in the first quarter of 2011 over the fourth quarter of 2010.
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 first quarter of 2011 with a year earlier, increases in producer prices were recorded for all industry groupings in the industrial sector. The metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer prices (+12.2%), followed by the textiles industry (+8.5%); the food, beverages and tobacco industry (+4.2%); the paper products, printing and reproduction of recorded media industry (+3.5%); and the wearing apparel industry (+1.4%).
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 industrial sector by selected industry grouping.
The revised figures on indices of industrial production and producer price indices for industrial sector for the first 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 July 22, 2011.
The classification of industrial establishments follows the Hong Kong Standard Industrial Classification (HSIC) 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, 1st Quarter 2011", and "Quarterly Producer Price Index for Industrial Sector, 1st 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/Monday, June 13, 2011
Issued at HKT 16:37
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