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 From Hong Kong's Information Services Department
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March 14, 2008
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Economy

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Q4 producer price index up 4.2%
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Census & Statistics Department

The industrial production index for the manufacturing sector as a whole fell 0.3% in last year's fourth quarter over a year earlier, with the corresponding producer price index up 4.2%, the Census & Statistics Department says.

 

The electrical and electronic products, machinery, professional equipment and optical goods industry saw the largest fall in output (-14.4%), followed by the basic metals and fabricated metal products industry (-3.3%) and paper products and printing industry (-0.4%).

 

Increases in output were recorded for the food, beverages and tobacco industry (+9.1%), chemical, rubber, plastic and non-metallic mineral products industry (+4.1%), textiles (including knitting) industry (+3.1%), and apparel (except footwear) industry (+0.1%).

 

On a seasonally-adjusted basis the industrial production index grew 2.1% on last year's third quarter. The producer price index rose 2%.

 

Comparing the fourth quarter with a year earlier the fabricated metal products (except machinery and equipment) industry saw the largest rise in producer prices (+4.9%), followed by textiles (including knitting) industry (+3.4%), plastic products industry (+2.5%), apparel (except footwear) industry (+2.3%), and paper products and printing industry (+0.2%).

 

Falls in producer prices were noted in the machinery, equipment, apparatus, parts and components industry (-2.6%), and the consumer electrical and electronic products industry (-1.8%). 

 

The industrial production index fell 1.5% last year over a year earlier, while the producer price index rose 3%.