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According to the provisional results of a survey released today (June 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 0.4% in the first quarter of 2016 compared with a year earlier, following a year-on-year decrease of 1.3% in the fourth quarter of 2015. The corresponding producer price index also decreased by 2.8% in the first quarter of 2016 compared with a year earlier, following a year-on-year decrease of 3.2% in the fourth quarter of 2015.
The index of industrial production for sewerage, waste management and remediation activities decreased by 1.0% in the first quarter of 2016 compared with a year earlier, following a year-on-year decrease of 3.0% in the fourth quarter of 2015. The corresponding producer price index decreased by 3.6% in the first quarter of 2016 compared with a year earlier, following a year-on-year decrease of 2.5% in the fourth 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 first quarter of 2016 with a year earlier, decreases in output volume were recorded mainly in the textiles industry (-16.7%); the metal, computer, electronic and optical products, machinery and equipment industry (-9.6%); the paper products, printing and reproduction of recorded media industry (-0.8%); and the wearing apparel industry (-0.8%). 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 by 2.8% in the first quarter of 2016 compared with the fourth quarter of 2015.
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 first quarter of 2016 with a year earlier, producer prices in the metal, computer, electronic and optical products, machinery and equipment industry decreased by 8.8%, while those in the paper products, printing and reproduction of recorded media industry decreased by 1.0%. On the other hand, increases in producer prices were recorded mainly in the food, beverages and tobacco industry (+1.4%); the wearing apparel industry (+1.2%); and the textiles industry (+1.1%).
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 first quarter of 2016 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 July 19, 2016.
Users can download the reports on "Quarterly Index of Industrial Production, 1st Quarter 2016", and "Quarterly Producer Price Index for Industrial Sector, 1st Quarter 2016" 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/Tuesday, June 14, 2016
Issued at HKT 16:30
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