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MONDAY, NOVEMBER 13, 1989
INDEX OF INDUSTRIAL PRODUCTION FOR SECOND QUARTER
* * *
QUARTER OF
THE SECOND
THE INDEX OF INDUSTRIAL PRODUCTION FOR THE SECOND 1989, AT 123, WAS 2 POINTS OR 1.7 PER CENT ABOVE THAT FOR QUARTER OF 1988. ACCORDING TO STATISTICS RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
THIS COMPARES WITH THE YEAR-ON-YEAR GROWTH RATE OF 3.8 PER CENT IN THE FIRST QUARTER OF 1989. THE AVERAGE GROWTH RATE FOR 1988 OVER 1987 WAS 6.0 PER CENT.
COMPARED WITH THE FIRST QUARTER OF 1989, THE INDEX SHOWED AN INCREASE OF 14 POINTS OR 12.8 PER CENT. THIS INCREASE WAS A SEASONAL PHENOMENON DUE MAINLY TO THE LARGER NUMBER OF WORKING DAYS IN THE SECOND QUARTER OVER THE FIRST QUARTER WHEN MOST OF THE MANUFACTURING WORKERS HAD THEIR LUNAR NEW YEAR HOLIDAYS.
INDUSTRIES SHOWING THE LARGEST PERCENTAGE INCREASES IN PRODUCTION IN THE SECOND QUARTER OF 1989 OVER THE SAME QUARTER OF 1988 WERE: MACHINERY, EXCEPT ELECTRICAL (+28.0 PER CENT): CHEMICALS AND CHEMICAL PRODUCTS (+13.6 PER CENT); NEWSPAPER PRINTING, JOB PRINTING AND OTHER PRINTING (+10.9 PER CENT): TEXTILES (INCLUDING KNITTING) (+9.3 PER CENT); AND PAPER AND PAPER PRODUCTS 1+6.5 PER CENT).
ON THE OTHER HAND, SEVERAL INDUSTRIES REPORTED DECLINES IN PRODUCTION COMPARED WITH THE SECOND QUARTER OF 1988. AMONG THEM WERE: PLASTIC PRODUCTS (-12.6 PER CENT): WOOD AND CORK PRODUCTS, AND FURNITURE AND FIXTURES (EXCEPT PRIMARILY OF METAL) (-9.6 PER CENT); FABRICATED METAL PRODUCTS, EXCEPT MACHINERY AND EQUIPMENT (-9.4 PER CENT: RUBBER PRODUCTS (-8,5 PER CENT) AND BEVERAGE (-7.4 PER CENT).
THIS
COMPARING THE INDUSTRIAL PRODUCTION IN THE SECOND QUARTER OF 1989 WITH THAT IN THE PRECEDING QUARTER BUT BEARING IN MIND THAT COMPARISON IS AFFECTED BY SEASONAL FACTORS, ALMOST ALL MANUFACTURING INDUSTRIES SURVEYED REPORTED INCREASES IN PRODUCTION.
THE MORE SIGNIFICANT INCREASES WERE RECORDED IN THE FOLLOWING INDUSTRIES: PAPER AND PAPER PRODUCTS (+34.2 PER CENT); TEXTILES (INCLUDING KNITTING) (+31.5 PER CENT); BEVERAGE (+21.5 PER CENT); AND CHEMICALS AND CHEMICAL PRODUCTS +19.0 PER CENT).
IN RELEASING THESE FIGURES. A SPOKESMAN FOR THE CENSUS AND STATISTICS DEPARTMENT EXPLAINED THAT THE INDEX OF INDUSTRIAL PRODUCTION IS PRIMARILY INTENDED TO REFLECT THE CHANGES OVER TIME OF LOCAL MANUFACTURING OUTPUT IN REAL TERMS. IN OTHER WORDS, THE VOLUME OF PRODUCTION IS MEASURED AFTER DISCOUNTING THE EFFECT OF PRICE CHANGES.
A TABLE SHOWING CHANGES IN THE PRODUCTION IN GREATER DETAIL IS INCLUDED.
INDEXES OF INDUSTRIAL
MORE DETAILED