Textiles including knitting industry output up in Q4 2007

14 Mar '08

3 min read

According to the provisional results of a survey released March 14 by the Census and Statistics Department, in the fourth quarter of 2007, the index of industrial production for the manufacturing sector as a whole decreased by 0.3% compared with a year earlier, following a 2.1% year-on-year decrease in the third quarter of 2007.

The corresponding producer price index increased by 4.2% in the fourth quarter of 2007 over a year earlier, as compared with a 2.5% year-on-year increase in the third quarter of 2007.

Indices of industrial production reflect changes in the volume of local manufacturing output after discounting the effect of price changes. The price changes are measured by the producer price indices for manufacturing industries compiled from data on producer prices of industrial goods/services collected from the same survey.

Comparing the fourth quarter of 2007 with a year earlier, the electrical and electronic products, machinery, professional equipment and optical goods industry had the largest decrease in output (-14.4%), followed by the basic metals and fabricated metal products industry (-3.3%).

On the other hand, increases in output were recorded for the chemical industry (+4.1%) and the textiles (including knitting) industry (+3.1%) in the fourth quarter of 2007 over a year earlier.

On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole increased by 2.1% in thefourth quarter of 2007 over the third quarter of 2007.

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