5
A slight decrease of 0.3% was recorded in the industry group of electrical and electronic products, machinery, professional equipment and optical goods. Within this group, the production of machinery, equipment, apparatus, parts and components increased by 5.9%, but the production of consumer electrical and electronic products decreased by 8.2%.
Compared with the fourth quarter of 1995, the index of industrial production showed a marked decrease of 18.9%. This decrease was, however, largely seasonal as the first quarter is usually a low season for manufacturing production due to the lunar new year holidays.
The index of industrial production reflects changes of local manufacturing output in real terms. In other words, it measures the volume of local production after discounting the effect of price changes.
More detailed information can be obtained from the Quarterly Index of Industrial Production, First Quarter 1996 report, which is on sale at $11 a copy at the Government Publications Sales Centre, Low Block, ground floor, Queensway Government Offices, 66 Queensway, Hong Kong.
The report is also available at the Census and Statistics Department Publications Unit, 19th floor, Wanchai Tower, 12 Harbour Road, Wan Chai. Regular subscription may be arranged.
Enquiries about the survey result may be directed to the General Economic Surveys Section of the Census and Statistics Department on 2805 6643.