XN000022-1990-08-13 — Page 2

MONDAY, AUGUST 13, 1990

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INDEX OF INDUSTRIAL PRODUCTION FOR 1ST QUARTER 1990 RELEASED

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THE INDEX OF INDUSTRIAL PRODUCTION FOR THE FIRST QUARTER 1990 STOOD AT 105, FOUR POINTS OR 3.7 PER CENT LOWER THAN THAT FOR THE SAME PERIOD OF 1989, ACCORDING TO STATISTICS RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

(MONDAY)

THIS COMPARED WITH THE YEAR-ON-YEAR GROWTH RATES OF 3.8 PER CENT IN THE FIRST QUARTER OF 1989, 1.7 PER CENT IN THE SECOND QUARTER, ◊ PER CENT IN THE THIRD QUARTER AND -0.3 PER CENT IN THE FOURTH QUARTER. THE AVERAGE GROWTH RATE FOR 1989 OVER 1988 WAS 0.8 PER CENT.

COMPARED WITH THE FOURTH QUARTER OF 1989, THE INDEX SHOWED A DECREASE OF 24 POINTS OR 18.6 PER CENT. THIS SIGNIFICANT DROP WAS A SEASONAL PHENOMENON CAUSED MAINLY BY THE INCIDENCE OF THE CHINESE NEW YEAR HOLIDAYS.

AMONG THE EIGHT BROAD INDUSTRY GROUPS, TWO RECORDED INCREASES IN PRODUCTION IN THE FIRST QUARTER OF 1990 OVER THE SAME QUARTER OF 1989. THEY WERE: FOOD, BEVERAGES AND TOBACCO (+12.5 PER CENT); AND PAPER PRODUCTS AND PRINTING (+7.1 PER CENT).

ON THE OTHER HAND, ALL OTHER BROAD INDUSTRY GROUPS SHOWED DECREASES IN PRODUCTION IN THE FIRST QUARTER OF 1990 COMPARED WITH THE FIRST QUARTER OF 1989. AMONG THEM WERE: BASIC METALS, FABRICATED METAL PRODUCTS AND NON-ELECTRICAL MACHINERY (-11.4 PER ELECTRICAL

CENT); AND ELECTRONIC PRODUCTS, PROFESSIONAL EQUIPMENT AND OPTICAL GOODS (-6.8 PER CENT); AND WEARING APPAREL, EXCEPT KNITWEAR AND FOOTWEAR (-5.9 PER CENT).

COMPARING THE INDUSTRIAL PRODUCTION IN THE FIRST QUARTER OF 1990 WITH THAT IN THE PRECEDING QUARTER, AND BEARING IN MIND THAT THIS COMPARISON IS MUCH AFFECTED BY SEASONAL FACTORS, ALL BROAD INDUSTRY GROUPS SHOWED DECREASES IN PRODUCTION.

THE LARGEST PERCENTAGE DECREASES IN PRODUCTION WERE RECORDED IN THE FOLLOWING BROAD INDUSTRY GROUPS: TEXTILES (INCLUDING KNITTING) (-32.3 PER CENT); AND WEARING APPAREL, EXCEPT KNITWEAR AND FOOTWEAR (-21.5 PER CENT).

EXPLAINING THESE RELEASED FIGURES, A SPOKESMAN FOR THE CENSUS AND STATISTICS DEPARTMENT SAID 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 LOCAL PRODUCTION IS MEASURED AFTER DISCOUNTING THE EFFECT OF PRICE CHANGES.

A TABLE SHOWING CHANGES IN THE PRODUCTION IN GREATER DETAIL IS ATTACHED.

INDEXES OF INDUSTRIAL

/MORE DETAILED