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Wearing apparel prices remain virtually unchanged in Q2

14 Sep '07
2 min read

According to the provisional results of a survey released on September 14 by the Census and Statistics Department, in the second quarter of 2007, the index of industrial production for the manufacturing sector as a whole decreased by 2.3% compared with a year earlier, following a 1.5% year-on-year decrease in the first quarter of 2007.

The corresponding producer price index increased by 2.6% in the second quarter of 2007 over a year earlier, as compared with a 2.5% year-on-year increase in the first 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 second quarter of 2007 with a year earlier, the wearing apparel (except footwear) industry had the largest decrease in output (-28.1%) and the textiles (including knitting) industry (-12.2%).

On the other hand, increases in output were recorded for the chemical industry (+12.7%) in the second quarter of 2007 over a year earlier.

On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole decreased by 1.5% in the second quarter of 2007 as compared with the first quarter of 2007.

Producer price indices reflect the prices of local manufacturing output. They measure 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 2007 with a year earlier the textiles (including knitting) industry (+1.8%) and the machinery, equipment, apparatus, parts and components industry (+1.0%). Meanwhile, producer prices in the wearing apparel (except footwear) industry remained virtually unchanged.

Comparing the second quarter of 2007 with the first quarter of 2007, the producer price index for the manufacturing sector as a whole increased by 0.8%.

Census and Statistics Department

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