According to the provisional results of a survey released today (March 12) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 6.0% in the fourth quarter of 2020 compared with the same quarter of 2019, following a year-on-year decrease of 7.4% in the third quarter of 2020. The corresponding producer price index increased by 2.9% in the fourth quarter of 2020 compared with the same quarter of 2019, following a year-on-year increase of 3.8% in the third quarter of 2020.

     The index of industrial production for sewerage, waste management and remediation activities decreased by 0.6% in the fourth quarter of 2020 compared with the same quarter of 2019, as against a year-on-year increase of 1.5% in the third quarter of 2020. The corresponding producer price index increased year on year by 0.6% in the fourth quarter of 2020 compared with the same quarter of 2019, as against a year-on-year decrease of 0.6% in the third quarter of 2020.

     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 2020 with the same quarter of 2019, decreases in output volume were recorded mainly in the food, beverages and tobacco industry (-11.3%); the paper products, printing and reproduction of recorded media industry (-3.4%); and the textiles and wearing apparel industry (-0.5%). On the other hand, an increase in output volume was recorded in the metal, computer, electronic and optical products, machinery and equipment industry (+0.7%).

     On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased by 1.2% in the fourth quarter of 2020 compared with the third quarter of 2020.

     For 2020 as a whole, the indices of industrial production for manufacturing industries as well as sewerage, waste management and remediation activities decreased by 5.8% and 0.1% respectively compared with 2019.

     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 2020 with the same quarter of 2019, increases in producer prices were recorded mainly in the metal, computer, electronic and optical products, machinery and equipment industry (+3.9%); the food, beverages and tobacco industry (+1.3%); and the paper products, printing and reproduction of recorded media industry (+0.7%). On the other hand, a slight decrease in producer price was recorded in the textiles and wearing apparel industry (-0.1%).

     For 2020 as a whole, the producer price index for manufacturing industries increased by 2.3% while that for sewerage, waste management and remediation activities decreased by 1.2% compared with 2019.

     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 2020 and the whole year of 2020 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 20, 2021.

     Users can download the reports "Quarterly Index of Industrial Production, 4th Quarter 2020" (www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002) and "Quarterly Producer Price Index for Industrial Sector, 4th Quarter 2020" (www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003) at the website of the C&SD.

     Readers who have enquiries about the survey results may contact the Industrial Production Statistics Section of the C&SD (Tel: 3903 7247; email: ind-production@censtatd.gov.hk).

Ends/Friday, March 12, 2021
Issued at HKT 16:30

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