Industrial production index for manufacturing sector decreases

14 Jun '07

2 min read

According to the provisional results of a survey released June 14 by the Census and Statistics Department (C&SD), in the first quarter of 2007, the index of industrial production for the manufacturing sector as a whole decreased by 1.5% compared with a year earlier, following a 1.4% year-on-year decrease in the fourth quarter of 2006.

The corresponding producer price index increased by 2.5% in the first quarter of 2007 over a year earlier, as compared with a 2.0% year-on-year increase in the fourth quarter of 2006.

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 2007 with a year earlier, the wearing apparel (except footwear) industry had the largest decrease in output (-26.5%), followed by the machinery, and the textiles (including knitting) industry (-3.5%).

On the other hand, increases in output were recorded for the chemical industry (+14.8%) and the paper products and printing industry (+1.6%) in the first 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 0.4% in the first quarter of 2007 over the fourth quarter of 2006.

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