Provisional statistics on index of industrial production and producer price index for industrial sector for fourth quarter of 2018 and whole year of 2018
Provisional statistics on index of industrial production and producer price index for industrial sector for fourth quarter of 2018 and whole year of 2018
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     According to the provisional results of a survey released today (March 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 1.3% in the fourth quarter of 2018 compared with the same quarter of 2017, following a year-on-year increase of 1.2% in the third quarter of 2018. The corresponding producer price index also increased by 0.3% in the fourth quarter of 2018 compared with the same quarter of 2017, following a slight year-on-year increase of less than 0.05% in the third quarter of 2018.

     The index of industrial production for sewerage, waste management and remediation activities increased by 4.8% in the fourth quarter of 2018 compared with the same quarter of 2017, following a year-on-year increase of 3.2% in the third quarter of 2018. The corresponding producer price index also increased by 3.0% in the fourth quarter of 2018 compared with the same quarter of 2017, following a year-on-year increase of 3.8% in the third quarter of 2018.

     Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes. The price changes are measured by the producer price indices compiled from data on producer prices of selected industrial goods/services collected in the same survey.

     Comparing the industrial production in respect of major manufacturing industries in the fourth quarter of 2018 with the same quarter of 2017, an increase in output volume was recorded mainly in the food, beverages and tobacco industry (+3.3%). On the other hand, decreases in output volume were mainly recorded in the metal, computer, electronic and optical products, machinery and equipment industry (-3.3%); and the textiles and wearing apparel industry (-2.9%).

     On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole increased by 0.2% in the fourth quarter of 2018 compared with the third quarter of 2018.

     For 2018 as a whole, the index of industrial production for manufacturing industries as well as sewerage, waste management and remediation activities increased by 1.3% and 3.2% respectively compared with 2017.

     Producer price indices reflect changes in the prices of local output. They measure changes in the actual prices (net of any discounts or rebates allowed to buyers, plus any surcharges) received by producers for their output. Transportation and other incidental charges are not included.

     Comparing the fourth quarter of 2018 with the same quarter of 2017, increases in producer prices were recorded mainly in the paper products, printing and reproduction of recorded media industry (+3.2%); and the food, beverages and tobacco industry (+1.4%). On the other hand, decreases in producer prices were recorded in the metal, computer, electronic and optical products, machinery and equipment industry (-0.3%); and the textiles and wearing apparel industry (-0.1%).

     For 2018 as a whole, the producer price indices for manufacturing industries as well as sewerage, waste management and remediation activities increased by 2.0% and 4.2% respectively compared with 2017.

     Table 1 shows the year-on-year percentage changes in the indices of industrial production by selected industry grouping. Table 2 shows the year-on-year percentage changes in the producer price indices for the industrial sector by selected industry grouping.

     The revised figures on indices of industrial production and producer price indices for the industrial sector for the fourth quarter of 2018 and the whole year of 2018 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department starting from April 18, 2019.

     Users can download the reports "Quarterly Index of Industrial Production, 4th Quarter 2018" (www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002) and "Quarterly Producer Price Index for Industrial Sector, 4th Quarter 2018" (www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003) free of charge at the website of the C&SD.

     Readers who have enquiries about the survey results may contact the Industrial Production Statistics Section of the C&SD (Tel: 3903 7247; fax: 2123 1048; email: ind-production@censtatd.gov.hk).
 
Ends/Thursday, March 14, 2019
Issued at HKT 16:30
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