Provisional statistics on index of industrial production and producer price index for industrial sector for fourth quarter of 2016 and whole year of 2016


Hong Kong (HKSAR) -      According to the provisional results of a survey released today (March 13) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 0.8% in the fourth quarter of 2016 compared with a year earlier, following a year-on-year decrease of 0.1% in the third quarter of 2016. The corresponding producer price index increased by 4.0% in the fourth quarter of 2016 compared with a year earlier, following a year-on-year increase of 3.9% in the third quarter of 2016.

     The index of industrial production for sewerage, waste management and remediation activities increased by 3.1% in the fourth quarter of 2016 compared with a year earlier, following a year-on-year increase of 3.7% in the third quarter of 2016. The corresponding producer price index also increased by 4.7% in the fourth quarter of 2016 compared with a year earlier, following a year-on-year increase of 5.2% in the third quarter of 2016.

     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 2016 with a year earlier, decreases in output volume were recorded mainly in the textiles industry (-4.6%); the wearing apparel industry (-4.5%); and the paper products, printing and reproduction of recorded media industry (-1.4%). On the other hand, increases in output volume were recorded in the food, beverages and tobacco industry (+3.2%) and the metal, computer, electronic and optical products, machinery and equipment industry (+3.1%).

     On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 0.8% in the fourth quarter of 2016 compared with the third quarter of 2016.

     For 2016 as a whole, the index of industrial production for manufacturing industries decreased by 0.4% while that for sewerage, waste management and remediation activities increased by 1.9% compared with 2015.

     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 producer prices in the fourth quarter of 2016 with those a year earlier, a significant increase was recorded in the metal, computer, electronic and optical products, machinery and equipment industry (+8.3%), largely attributable to the notable rebound of the market prices of precious metals from the low base in the fourth quarter of 2015. Increases in producer prices were also recorded in the food, beverages and tobacco industry (+1.1%); the paper products, printing and reproduction of recorded media industry (+1.1%); and the wearing apparel industry (+1.0%). On the other hand, a decrease in producer prices was recorded in the textiles industry (-0.8%).

     For 2016 as a whole, the producer price indices for manufacturing industries as well as sewerage, waste management and remediation activities increased by 1.3% and 2.2% respectively compared with 2015.

     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 2016 and the whole year of 2016 will be released at the website of the C&SD (http://www.censtatd.gov.hk/hkstat/sub/bbs.jsp">www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department starting from April 20, 2017.

     Users can download the reports "Quarterly Index of Industrial Production, 4th Quarter 2016" and "Quarterly Producer Price Index for Industrial Sector, 4th Quarter 2016" free of charge at the website of the C&SD (http://www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002">www.censtatd.gov.hk/hkstat/sub/sp310.jsp?productCode=B1070002 and http://www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003">www.censtatd.gov.hk/hkstat/sub/sp280.jsp?productCode=B1070003 respectively).

     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).



Published on: 2017-03-13

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