Provisional statistics on index of industrial production and producer price index for the industrial sector for 4th quarter of 2011 and the whole year of 2011
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     According to the provisional results of a survey released today (March 13) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 2.2% in the fourth quarter of 2011 compared with the same quarter of 2010, following a 0.2% year-on-year increase in the third quarter of 2011.  The corresponding producer price index increased by 6.5% in the fourth quarter of 2011 over the same quarter of 2010, following a 9.5% year-on-year increase in the third quarter of 2011.

     The index of industrial production for sewerage, waste management and remediation activities increased by 10.4% in the fourth quarter of 2011 over the same quarter of 2010, following a 12.6% year-on-year increase in the third quarter of 2011.  The corresponding producer price index increased by 5.8% in the fourth quarter of 2011 over the same quarter of 2010, following a 6.2% year-on-year increase in the third quarter of 2011.

     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 2011 with the fourth quarter of 2010, decreases in output volume were recorded in the metal, computer, electronic and optical products, machinery and equipment industry (-18.8%); the textiles industry (-16.6%); the wearing apparel industry (-12.5%); and the paper products, printing and reproduction of recorded media industry (-0.3%).  On the other hand, the food, beverages and tobacco industry recorded an increase of 6.4% in output volume.

     On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 1.5% in the fourth quarter of 2011 as compared with the third quarter of 2011.

     For 2011 as a whole, the indices of industrial production for manufacturing industries as well as sewerage, waste management and remediation activities increased by 0.7% and 10.5% respectively compared with 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) faced by producers for their output.  Transportation and other incidental charges are not included.

     Comparing the fourth quarter of 2011 with the fourth quarter of 2010, increases in producer prices were recorded for all major manufacturing industries.  The textiles industry had the largest increase in producer prices (+9.4%), followed by the food, beverages and tobacco industry (+8.6%); the metal, computer, electronic and optical products, machinery and equipment industry (+8.6%); the wearing apparel industry (+3.2%); and the paper products, printing and reproduction of recorded media industry (+1.2%).

     For 2011 as a whole, the producer price indices for manufacturing industries as well as sewerage, waste management and remediation activities increased by 8.3% and 6.9% respectively compared with 2010.

     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 2011 and the whole year 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 April 20, 2012.

     Users can download the reports on "Quarterly Index of Industrial Production, 4th Quarter 2011", and "Quarterly Producer Price Index for Industrial Sector, 4th 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 Statistics Section of the C&SD (Tel.: 2805 6643; Fax: 2123 1048; E-mail: ind-production@censtatd.gov.hk).

Ends/Tuesday, March 13, 2012
Issued at HKT 16:30

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