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According to the provisional results of a survey released today (March 16) by the Census and Statistics Department, the index of industrial production for the manufacturing sector as a whole increased by 5.9% in the fourth quarter of 2005 over a year earlier, following a 4.1% year-on-year increase in the third quarter of 2005. The corresponding producer price index increased by 1.1% in the fourth quarter of 2005 over a year earlier, as compared with a 0.8% year-on-year increase in the third quarter of 2005.
2. 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.
3. Comparing the fourth quarter of 2005 with a year earlier, increases in output were recorded for all the manufacturing industries surveyed. Among them, the electrical and electronic products, machinery, professional equipment and optical goods industry had the largest increase in output (+10.6%), followed by the chemical, rubber, plastic and non-metallic mineral products industry (+9.5%), the textiles (including knitting) industry (+8.7%), the paper products and printing industry (+4.7%), the basic metals and fabricated metal products industry (+4.1%), the food, beverages and tobacco industry (+3.3%), and the wearing apparel (except footwear) industry (+1.3%).
4. On a seasonally adjusted basis, the index of industrial production for the manufacturing sector as a whole increased by 3.5% in the fourth quarter of 2005 over the third quarter of 2005.
5. For 2005 as a whole, the index of industrial production for the manufacturing sector increased by 2.5% compared with 2004.
6. 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.
7. Comparing the fourth quarter of 2005 with a year earlier, the wearing apparel (except footwear) industry had the largest increase in producer prices (+4.6%), followed by the fabricated metal products (except machinery and equipment) industry (+4.3%), the consumer electrical and electronic products industry (+3.9%), and the plastic products industry (+1.9%).
8. On the other hand, decreases in producer prices were recorded for the machinery, equipment, apparatus, parts and components industry (-1.2%), the paper products and printing industry (-0.7%), and the textiles (including knitting) industry (-0.5%) in the fourth quarter of 2005 compared with a year earlier.
9. Comparing the fourth quarter of 2005 with the third quarter of 2005, the producer price index for the manufacturing sector as a whole increased by 0.8%.
10. For 2005 as a whole, the producer price index for the manufacturing sector increased by 0.8% compared with 2004.
11. Table 1 shows the year-on-year percentage changes in the indices of industrial production by industry group and selected component industry. Table 2 shows the year-on-year percentage changes in the producer price indices by industry group.
12. The reports containing analysis of survey results for the fourth quarter of 2005 are available for sale in both print version and download version (in PDF format). Both of the "Quarterly Index of Industrial Production, 4th Quarter 2005" report and the "Quarterly Producer Price Indices for Manufacturing Industries, 4th Quarter 2005" report are available for sale at $7 per issue. Both print version and download version of the publications can be purchased online at the ˇ°Statistical Bookstore, Hong Kongˇ± (http://www.statisticalbookstore.gov.hk). Download version of the publications can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (Address : http://www.isd.gov.hk/eng/bookorder.htm).
13. Print version can be purchased through mail order by completing and returning an order form which can be downloaded from the website of the Census and Statistics Department (C&SD) (http://www.censtatd.gov.hk/eng/prod_serv/forms_index.html), or in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025).
14. Enquiries about the survey results may be directed to the Industrial Production & Tourism Statistics Section of the C&SD at Tel. 2805 6643 or email address ind-production@censtatd.gov.hk.
Ends/Thursday, March 16, 2006
Issued at HKT 16:19
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