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ECONOMY | Tony Chua, Hong Kong
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Second quarter manufacturing production index up 2%

Notable decreases in output volume were recorded in the textiles and apparel industry.

The index of industrial production for manufacturing industries as a whole rose 2% in the second quarter over a year earlier, following a 3.5% year-on-year increase in the first quarter.

The Census & Statistics Department also said in a report on Thursday the corresponding producer price index increased by 8.9%, following an 8.2% year-on-year increase in Q1.

The index of industrial production for sewerage, waste management and remediation activities rose 8.7% in Q2, following a 10% year-on-year increase in Q1. The corresponding producer price index increased by 8.8%, following a 6.8% year-on-year increase in Q1.

Comparing the industrial production in respect of major manufacturing industries in Q2 with that a year earlier, increases in output volume were recorded in the food, beverages and tobacco industry (9.8%) and the paper products, printing and reproduction of recorded media industry (1.3%).

Decreases in output volume were recorded in the textiles industry (-13.5%), the wearing apparel industry (-9.6%) and the metal, computer, electronic and optical products, machinery and equipment industry (-9.4%).

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole dropped 0.6% in Q2 as compared with Q1.

Year-on-year increases in producer prices were recorded for all major manufacturing industries. The metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer prices (14.4%), followed by textiles industry (10.6%), the food, beverages and tobacco industry (5.2%), paper products, printing and reproduction of recorded media industry (2.5%) and the wearing apparel industry (2.3%).

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