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The Census and Statistics Department (C&SD) released today (December 20) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the third quarter of 2012.
GDP figures by economic activity show the value of production for individual economic activities. The value of production is measured by net output or value added, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures, enable analysis of the output growth profiles of individual economic sectors in real terms, by removing the effect of price changes.
Overall GDP increased by 1.3% in real terms in the third quarter of 2012 from a year earlier, compared with the 1.2% increase in the second quarter of 2012.
Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together increased by 2.2% in real terms in the third quarter of 2012 from a year earlier, compared with the 1.6% growth in the second quarter.
Net output in the import and export, wholesale and retail trades sector increased by 2.7% in real terms in the third quarter of 2012 from a year earlier, compared with the increase of 1.2% in the second quarter. The modest growth in this sector was mainly attributable to the subdued performance in external trade of Hong Kong amid the lacklustre global economy.
Net output in the financing and insurance sector edged up by 0.2% in real terms in the third quarter of 2012 from a year earlier, compared with the 0.5% increase in the second quarter. The sluggish performance of the sector continued during the quarter as stock trading and fund raising activities remained generally quiet.
Net output in the accommodation services (covered hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector increased by 3.1% in real terms in the third quarter of 2012 from a year earlier, faster than the 1.9% growth in the second quarter.
Net output in the transportation, storage, postal and courier services sector increased by 1.8% in real terms in the third quarter of 2012 compared with a year earlier, as against the 2.0% drop in the second quarter.
Net output in the information and communications sector grew by 3.4% in real terms in the third quarter of 2012 from a year earlier, faster than the 1.8% increase in the second quarter.
Net output in the real estate, professional and business services sector increased by 3.3% in real terms in the third quarter of 2012 from a year earlier, following the increase of 4.6% in the second quarter.
Net output in the public administration, social and personal services sector increased by 3.5% in real terms in the third quarter of 2012 over a year earlier, compared with the growth of 3.3% in the second quarter.
As for sectors other than the services sectors, net output in the local manufacturing sector edged down by 0.1% in real terms in the third quarter of 2012 from a year earlier, after the 2.9% drop in the second quarter.
Net output in the electricity, gas and water supply, and waste management sector drop by 0.6% in real terms in the third quarter of 2012 from a year earlier, as against the 3.7% growth in the second quarter.
Net output in the construction sector increased by 7.5% in real terms in the third quarter of 2012 from a year earlier, compared with the 10.2% growth in the second quarter.
Further information
The year-on-year percentage changes of GDP by economic activity in real terms from the third quarter of 2011 to the third quarter of 2012 are shown in Table 1. For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at telephone number 2116 5115.
Figures of chain volume measures of GDP by economic activity for the third quarter of 2012 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly. Users may obtain a copy of this press release at the website of the C&SD (www.censtatd.gov.hk). More detailed figures can also be found at the Hong Kong Statistics section of the website.
Ends/Thursday, December 20, 2012
Issued at HKT 16:30
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