XN000022-1991-11-07 — Page 2

THURSDAY, NOVEMBER 7, 1991

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INDEX OF INDUSTRIAL PRODUCTION FOR 1991 SECOND QUARTER'

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THE INDEX OF INDUSTRIAL PRODUCTION FOR THE SECOND QUARTER OF 1991, AT 122, WAS 1 POINT OR 0.8% HIGHER THAN THAT FOR THE SECOND QUARTER OF 1990, ACCORDING TO STATISTICS RELEASED TODAY (THURSDAY}) THE CENSUS AND STATISTICS DEPARTMENT.

BY

THIS COMPARES WITH THE YEAR-ON-YEAR GROWTH RATE OF 1.0% IN THE FIRST QUARTER OF 1991. THE AVERAGE RATE OF CHANGE FOR 1990 OVER 1989 WAS -0.8%.

COMPARED WITH THE FIRST QUARTER OF 1991, THE INDEX FOR THE SECOND QUARTER OF 1991 SHOWED AN INCREASE OF 16 POINTS OR 15.1%.

THIS SIGNIFICANT INCREASE WAS A SEASONAL PHENOMENON DUE MAINLY TO THE LARGER NUMBER OF WORKING DAYS IN THE SECOND QUARTER THAN IN THE FIRST QUARTER WHEN MANUFACTURING WORKERS HAD THEIR LUNAR NEW YEAR HOLIDAYS.

IN

AMONG THE EIGHT BROAD INDUSTRY GROUPS, FIVE RECORDED INCREASES PRODUCTION IN THE SECOND QUARTER OF 1991 OVER THE SAME QUARTER

1990.

OF

MORE SIGNIFICANT PERCENTAGE INCREASES WERE RECORDED IN THE FOLLOWING GROUPS: FOOD, BEVERAGES AND TOBACCO (+12.9%); PAPER PRODUCTS AND PRINTING (+8.2%); AND ELECTRICAL AND ELECTRONIC PRODUCTS, PROFESSIONAL EQUIPMENT AND OPTICAL GOODS (+4.1%).

ON THE OTHER HAND, THE BROAD INDUSTRY GROUP "CHEMICALS, RUBBER, PLASTIC AND NON-METALLIC MINERAL PRODUCTS" SHOWED THE LARGEST PERCENTAGE DECREASE IN PRODUCTION (-6.7%) IN THE SECOND QUARTER OF 1991 COMPARED WITH THE SAME QUARTER OF 1990.

COMPARING THE INDUSTRIAL PRODUCTION IN THE SECOND QUARTER OF 1991 WITH THAT IN THE PRECEDING QUARTER, AND BEARING IN MIND THAT THIS COMPARISON IS MUCH AFFECTED BY SEASONAL FACTORS, ALL EIGHT BROAD INDUSTRY GROUPS SHOWED INCREASES IN PRODUCTION.

MORE SIGNIFICANT PERCENTAGE INCREASES IN PRODUCTION WERE RECORDED IN THE FOLLOWING GROUPS: TEXTILES (INCLUDING KNITTING) (+37.6%); CHEMICALS, RUBBER, PLASTIC AND NON-METALLIC MINERAL PRODUCTS (+23.9%); AND PAPER PRODUCTS AND PRINTING (+19.4%).

CENSUS AND

IN RELEASING THESE FIGURES, A SPOKESMAN FOR THE 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 LOCAL PRODUCTION IS MEASURED AFTER DISCOUNTING THE EFFECT OF PRICE CHANGES.

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

/MORE DETAILED