************************************************************
According to the provisional results of a survey released today (March 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 1.1% in the fourth quarter of 2015 compared with a year earlier, following a year-on-year decrease of 2.1% in the third quarter of 2015. The corresponding producer price index decreased by 3.2% in the fourth quarter of 2015 compared with a year earlier, following a year-on-year decrease of 4.4% in the third quarter of 2015.
The index of industrial production for sewerage, waste management and remediation activities decreased by 3.0% in the fourth quarter of 2015 compared with a year earlier, following a year-on-year decrease of 0.7% in the third quarter of 2015. The corresponding producer price index decreased by 2.5% in the fourth quarter of 2015 compared with a year earlier, following a year-on-year decrease of 5.4% in the third quarter of 2015.
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 2015 with that a year earlier, decreases in output volume were recorded mainly in the textiles industry (-30.9%); the metal, computer, electronic and optical products, machinery and equipment industry (-11.1%); the wearing apparel industry (-0.6%); and the paper products, printing and reproduction of recorded media industry (-0.5%). On the other hand, an increase in output volume was recorded in the food, beverages and tobacco industry (+5.0%).
On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased marginally by 0.2% in the fourth quarter of 2015 compared with the third quarter of 2015.
For 2015 as a whole, the index of industrial production for manufacturing industries decreased by 1.5% while that for sewerage, waste management and remediation activities increased by 0.9% compared with 2014.
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 for their output. Transportation and other incidental charges are not included.
Comparing the fourth quarter of 2015 with a year earlier, producer prices in the metal, computer, electronic and optical products, machinery and equipment industry decreased by 9.3%, while those in the paper products, printing and reproduction of recorded media industry decreased by 4.7%. On the other hand, increases in producer prices were recorded in the wearing apparel industry (+5.9%); the textiles industry (+4.3%); and the food, beverages and tobacco industry (+1.0%).
For 2015 as a whole, the producer price indices for manufacturing industries as well as sewerage, waste management and remediation activities decreased by 2.7% and 1.8% respectively compared with 2014.
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 2015 and the whole year of 2015 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department starting from April 19, 2016.
Users can download the reports on "Quarterly Index of Industrial Production, 4th Quarter 2015", and "Quarterly Producer Price Index for Industrial Sector, 4th Quarter 2015" free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002 and www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003 respectively).
Readers who have enquiries about the survey results may contact the Industrial Production Statistics Section of the C&SD (Tel: 3903 7247; fax: 2123 1048; email:ind-production@censtatd.gov.hk).
Ends/Monday, March 14, 2016
Issued at HKT 16:30
NNNN
