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 From Hong Kong's Information Services Department
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December 14, 2007
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Manufacturing
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Q3 industrial production index down 2.1%
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Census & Statistics Department

The industrial production index fell 2.1% in the year's third quarter on the same period last year, following a 2.3% year-on-year fall in the second quarter, the Census & Statistics Department says.

 

The corresponding producer price index rose 2.5% in the third quarter from a year earlier, as compared with a 2.6% year-on-year rise in the second quarter.

 

The apparel (except footwear) industry saw the largest fall in output (-20.6%), followed by textiles (including knitting) (-16.4%), electrical and electronic products, machinery, professional equipment and optical goods (-10.2%) and basic metals and fabricated metal products (-8.7%).

 

Increases in output were recorded for the food, beverages and tobacco industry (+14%), chemical, rubber, plastic and non-metallic mineral products (+9.5%) and paper products and printing (+3.8%).

 

On a seasonally adjusted basis the industrial production index for the manufacturing sector as a whole fell 1.5% compared with the second quarter.

 

Comparing the third quarter with a year earlier the fabricated metal products (except machinery and equipment) industry saw the largest increase in producer prices (+5.3%), followed by plastic products (+3.6%), textiles (including knitting) (+2.9%) and paper products and printing (+1.4%).

 

Decreases in producer prices were noted in the consumer electrical and electronic products industry (-2.4%) and machinery, equipment, apparatus, parts and components (-2%).

 

Comparing the third quarter with the second quarter, the producer price index for the manufacturing sector as a whole remained virtually unchanged.

 

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