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Industrial output for textiles industry drop in Q2

12
Sep '08
According to the provisional results of a survey released September 12 by the Census and Statistics Department (C&SD), the index of industrial production for the manufacturing sector as a whole decreased by 4.1% in the second quarter of 2008 compared with a year earlier, following a 4.4% year-on-year decrease in the first quarter of 2008.

The corresponding producer price index increased by 6.6% in the second quarter of 2008 over a year earlier, as compared with a 5.7% year-on-year increase in the first quarter of 2008.

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 second quarter of 2008 with a year earlier, the wearing apparel (except footwear) industry had the largest decrease in output (-20.1%), followed by the textiles (including knitting) industry (-12.2%) and the machinery (-11.2%).

On the other hand, output of the food, beverages and tobacco industry increased by 4.7% in the second quarter of 2008 over a year earlier.

On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole decreased by 0.5% in the second quarter of 2008 as compared with the first quarter of 2008.

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 to buyers, plus any surcharges) received by manufacturers. Transportation and other incidental charges are not included.

Comparing the second quarter of 2008 with a year earlier the machinery, equipment, apparatus, parts and components industry (+4.6%).

On the other hand, decreases in producer prices were seen in the consumer electrical and electronic products industry (-2.4%) and the textiles (including knitting) industry (-1.5%) in the second quarter of 2008 compared with a year earlier.

Comparing the second quarter of 2008 with the first quarter of 2008, the producer price index for the manufacturing sector as a whole increased by 1.7%.

Census and Statistics Department


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