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1996 third quarter industrial production index released
The index of industrial production for the third quarter of 1996 decreased by 4.8% over the same quarter in 1995, according to the results of a survey released today (Thursday) by the Census and Statistics Department.
Analysed by industry group, the production of the textiles (including knitting) industry and the wearing apparel (except footwear) industry both decreased by 8.4%.
Output of the industry group of electrical and electronic products, machinery, professional equipment and optical goods recorded a decrease of 8.3%. Within this group, the production of consumer electrical and electronic products decreased by 13.5%, whereas the production of machinery, equipment, apparatus, parts and components decreased by 4.2%.
Decreases were also registered in the basic metals and fabricated metal products industry (-5.8%); and the paper products and printing industry (-2.5%).
Production of the chemical, rubber, plastic and non-metallic mineral products industry increased only marginally, by 0.2%. But within this group, the production of plastic products decreased by 1.3%.
On the other hand, an increase of 8.7% was recorded in the food, beverages and tobacco industry.
Compared with the second quarter of 1996, the index of industrial production showed a considerable increase of 10.4%. This increase was, however, partly seasonal as manufacturing activities usually entered into peak season in the third quarter.
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, 3rd 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 and the Census and Statistics Department Publications Unit, 19th floor. Wanchai Tower, 12 Harbour Road, Wan Chai. Regular subscription may also 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.