Chain volume measures of Gross Domestic Product by economic activity for third quarter of 2016
Chain volume measures of Gross Domestic Product by economic activity for third quarter of 2016
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     The Census and Statistics Department (C&SD) released today (December 20) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the third quarter of 2016.

     GDP figures by economic activity show the value of production in respect of individual economic activities. The value of production is measured by net output or value added, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures net of the effect of price changes, enable analysis of the output growth profiles of individual economic sectors in real terms.

     According to the preliminary figures, overall GDP increased by 1.9% in real terms in the third quarter of 2016 over a year earlier, compared with the 1.7% increase in the second quarter of 2016.

     Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together increased by 2.3% in real terms in the third quarter of 2016 over a year earlier, compared with the 2.6% rise in the second quarter.

     Net output in the import and export, wholesale and retail trades sector registered an increase of 0.6% in real terms in the third quarter of 2016 over a year earlier, similar to the growth of 0.5% in the second quarter. This was mainly attributable to the sustained modest growth in the merchandise trade during the quarter.

     Net output in the financing and insurance sector grew by 4.8% in real terms in the third quarter of 2016 over a year earlier, compared with the increase of 4.6% in the second quarter. The continued growth of this sector was mainly underpinned by the rebounded stock trading activities and fund raising activities during the quarter.

     Net output in the accommodation services (covering hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector rose by 0.9% in real terms in the third quarter of 2016 over a year earlier, compared with the growth of 1.2% in the second quarter.

     Net output in the transportation, storage, postal and courier services sector increased by 3.4% in real terms in the third quarter of 2016 over a year earlier, compared with the growth of 3.2% in the second quarter.

     Net output in the information and communications sector grew by 3.3% in real terms in the third quarter of 2016 over a year earlier, after the increase of 4.0% in the second quarter.

     Net output in the real estate, professional and business services sector rosed by 3.2% in real terms in the third quarter of 2016 over a year earlier, compared with the growth of 3.4% in the second quarter.

     Net output in the public administration, social and personal services sector increased by 2.4% in real terms in the third quarter of 2016 over a year earlier, compared with the growth of 3.3% in the second quarter.

     As for sectors other than the services sectors, net output in the local manufacturing sector recorded a marginal decline of 0.1% in real terms in the third quarter of 2016 from a year earlier, after the decrease of 0.4% in the second quarter.

     Net output in the electricity, gas and water supply, and waste management sector registered an increase of 0.5% in real terms in the third quarter of 2016 over a year earlier, similar to the growth of 0.4% in the second quarter.

     Net output in the construction sector registered an increase of 2.8% in real terms in the third quarter of 2016 over a year earlier, similar to the growth of 2.7% in the second quarter.

Further information

     The year-on-year percentage changes of GDP by economic activity in real terms from the third quarter of 2015 to the third quarter of 2016 are shown in Table 1. For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at telephone number 3903 7005.

     Figures of chain volume measures of GDP by economic activity for the third quarter of 2016 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly. Users may obtain a copy of this press release at the website of the C&SD (www.censtatd.gov.hk). More detailed figures can also be found at the Hong Kong Statistics section of the website.
 
Ends/Tuesday, December 20, 2016
Issued at HKT 16:30
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