, Hong Kong
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Industrial production index drops by 0.6%

Textiles, wearing apparel, metal, and computer industries saw decreases in output volume.

The index of industrial production for manufacturing industries as a whole decreased by 0.6% in the third quarter of 2022 compared with a year earlier, against a year-on-year increase of 2.7% in the second quarter of 2022.

The index of industrial production for sewerage, waste management and remediation activities decreased by 3% in the third quarter of 2022 compared with a year earlier, as against a YoY increase of 0.6% in the second quarter of 2022

Comparing the industrial production in respect of major manufacturing industries in the third quarter of 2022 with that a year earlier decreases in output volume were recorded in the textiles and wearing apparel industry (-4.6%); the metal, computer, electronic and optical products, machinery and equipment industry (-2.1%); the food, beverages and tobacco industry (-1.0%); and the paper products, printing and reproduction of recorded media industry (-0.6%).

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 2.6% in the third quarter of 2022 compared with the second quarter of 2022.

Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes. The price changes are measured by the producer price indices compiled from data on producer prices of selected industrial goods/services collected in the same survey.

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