XN000022-1988-08-13 — Page 2

SATURDAY, AUGUST 13, 1988

1988 1ST QUARTER INDUSTRIAL PRODUCTION INDEX RELEASED

THE INDEX OF INDUSTRIAL PRODUCTION FOR THE FIRST QUARTER OP 1988, AT 105, WAS 8 POINTS OR 6.1 PER CENT ABOVE THAT FOR THE FIRST QUARTER OF 1987, ACCORDING TO STATISTICS RELEASED TODAY (SATURDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THIS COMPARES WITH THE YEAR-ON-TEAR GROWTH RATES OF 9 PER CENT IN THE FOURTH QUARTER OF 1987, AND OF AN AVERAGE OF

PER CENT IN THE FIRST THREE QUARTERS OF 1987.

COMPARED WITH THE FOURTH QUARTER OF 1987, THE INDEX SHOWED DECREASE OF 18 POINTS OR 14.6 PER CENT. THIS SIGNIFICANT DROP WAS SEASONAL PHENOMENON CAUSED MAINLY BY THE INCIDENCE OF THE CHINESE YEAR HOLIDAYS.

NEW

STARTING FROM THE FIRST QUARTER OF 1988, A NEW INDEX SERIES WITH 1986 AS THE BABR YEAR (THAT IS, THE INDEX FOR 1986 IS SET AT 100) 18 PUBLISHED TO REPLACE THE OLD INDEX SERIES WITH THE INDEX FOR 1981 SET AT 100. CONCURRENT WITH THE REBASING, CHANGES IN THE INDUSTRIAL STRUCTURE OF HONG KONG SINCE 1981 HAVE BEEN TAKEN INTO ACCOUNT.

INDUSTRIES SHOWING THE LARGEST INCREASES IN PRODUCTION IN TAB FIRST QUARTER OF 1988 OVER THE SAME QUARTER OF 1987 WERE: FABRICATED METAL PRODUCTS, EXCEPT MACHINERY AND EQUIPMENT (+32.9 FER CENT); ELECTRICAL AND ELECTRONIC PARTS, ACCESSORIES AND MACHINERY (+26.4 PER CENT); NEWSPAPER PRINTING, JOB PRINTING AND OTHER PRINTING (+20.6 PER CENT); TRANSPORT EQUIPMENT (+16.3 PER CENT); AND MACHINERY, EXCEPT ELECTRICAL (+15 PER CENT).

THE FOLLOWING INDUSTRIES REPORTED A DECLINE IN PRODUCTION COMPARED WITH THE FIRST QUARTER OF 1987: WOOD AND CORK PRODUCTS, AND FURNITURE AND FIXTURES (EXCEPT PRIMARILY OF METAL) (-6.4 PER CENT); TEXTILES (INCLUDING KNITTING) (-6.4 PER CENT); LEATHER PRODUCTS AND FOOTWEAR (EXCEPT RUBBER, PLASTIC AND WOODEN FOOTWEAR) (-2.6 PER CENT); WEARING APPAREL, EXCEPT KNITWEAR AND FOOTWEAR (-2 PER CENT); AND RUBBER PRODUCTS (-1.6 PRR CENT).

COMPARING THE INDUSTRIAL PRODUCTION IN THE FIRST QUARTER OF 1988 WITH THAT IN THE PRECEDING QUARTER BUT BEARING IN MIND THAT THIS COMPARISON IS INFLUENCED BY SEASONAL FACTORS, ALL MANUFACTURING INDUSTRIES SURVEYED REPORTED SOME DECREASES IN PRODUCTION.

THE MORE SIGNIFICANT DECREASES WERE RECORDED IN THE FOLLOWING INDUSTRIES: TEXTILES (INCLUDING KNITTING) (-26.1 PER CENT); WOOD AND CORK PRODUCTS, AND FURNITURE AND FIXTURES (EXCEPT PRIMARILY OF METAL) (-25.4 PER CENT); LEATHER PRODUCTS AND FOOTWEAR (EXCEPT RUBBER, PLASTIC AND WOODEN FOOTWEAR) (-22,1 PER CRNT); WEARING APPAREL, EXCEPT KNITWEAR AND FOOTWEAR (-19.7 PER CENT); NON-METALLIC MINERAL, PRODUCTS (-19.5 PER CENT); AND CONSUMER ELECTRICAL AND ELECTRONIC PRODUCTS (-15.2 PER CENT).

/IN RELEASING