Manufacturing industrial output slipped 6% in Q4 2020

The decrease were mainly attributed in the food, beverages, and tobacco industry.

Industrial production for manufacturing industries declined 6% in the fourth quarter of 2020, compared with the same quarter in 2019, the Census and Statistics Department reported.

The decreases in output were recorded mainly in the food, beverages and tobacco industry, which dropped 11.3% YoY. Paper products, printing, and reproduction of recorded media industry was down 3.4%, whilst the textiles and wearing apparel industry decreased by 0.5%.

Metal, computer, electronic and optical products performed relatively better as it increased by 0.7% YoY in the fourth quarter of 2020.

Meanwhile, industrial production for sewerage, waste management, and remediation activities decreased 0.6% YoY in the fourth quarter.

On a seasonally adjusted basis, the fourth quarter output showed an increase of 1.2% month-on-month. For the entire year, the indices of industrial production for manufacturing industries and sewerage, waste management and remediation activities declined 5.8% and 0.1%, respectively.

Further, the producer price index rose 0.6% in the fourth quarter of 2020. In the third quarter, the price index declined 0.6%.

The corresponding producer price index increased 0.6% YoY in the fourth quarter of 2020 compared with the same quarter of 2019, as against a decrease of 0.6% YoY in the third quarter of 2020.

Between the fourth quarter of 2020 and 2019, increases in producer prices were mainly seen in the metal, computer, electronic and optical products, machinery and equipment industry (+3.9%); the food, beverages and tobacco industry (+1.3%); and the paper products, printing and reproduction of recorded media industry (+0.7%).

Textiles and wearing apparel industry slightly decrease by 0.1%.

For the full year of 2020, the producer price index for manufacturing industries increased by 2.3% whilst that for sewerage, waste management and remediation activities decreased by 1.2% compared with 2019.