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Decrease in output of textiles & knitting industry
13
Jun '08
According to the provisional results of a survey released June 13 by the Census and Statistics Department, in the first quarter of 2008, the index of industrial production for the manufacturing sector as a whole decreased by 4.4% compared with a year earlier, following a 0.3% year-on-year decrease in the fourth quarter of 2007.

The corresponding producer price index increased by 5.8% in the first quarter of 2008 over a year earlier, as compared with a 4.2% year-on-year increase in the fourth 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 first quarter of 2008 with a year earlier, the textiles (including knitting) industry had the largest decrease in output (-22.8%), followed by the machinery, (-14.2%) and the wearing apparel (except footwear) industry (-8.9%).

On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole decreased by 4.3% in the first quarter of 2008 as compared with the fourth quarter of 2007.

Producer price indices reflect changes in the prices of local manufacturing output. They measure changes in the actual prices (net of any discounts or rebates allowed tobuyers, plus any surcharges) received by manufacturers. Transportation and other incidental charges are not included.

On the other hand, decreases in producer prices were noted in the textiles (including knitting) industry (-1.6%) in the first quarter of 2008 compared with a year earlier.

Comparing the first quarter of 2008 with the fourth quarter of 2007, the producer price index for the manufacturing sector as a whole increased by 2.8%.

Census and Statistics Department

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