Hongkong'S Apparel Industry Output Fell 19.1% In The Second Quarter Compared With The Same Quarter Last Year.

According to the provisional results of a statistical survey issued by the census and Statistics Department of Hongkong, the overall manufacturing industry index of industrial production decreased by 2.9% in the second quarter of 2012 compared with the same quarter last year, after a year-on-year decline of 1.6% in the first quarter of 2012.

The corresponding producer price index decreased by 0.7% in the second quarter of 2012 compared with the same quarter last year, while the year-on-year increase in the first quarter of 2012 was 3.6%.

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Following a year-on-year increase of 6.6% in the first quarter of 2012, the second quarter of 2012 increased by 4.3% compared with the same quarter last year.

The corresponding producer price index increased by 2.5% in the second quarter of 2012 compared with the same quarter last year, while the year-on-year increase in the first quarter of 2012 was 3.5%.

The index of industrial production reflects the change of local industrial production, that is, the effect of price fluctuation has been eliminated.

The price changes are measured by the producer price index, which is compiled on the basis of producer price data of selected industrial products / services collected in the same survey.

For the major sectors of the manufacturing sector, there was a decrease in the second quarter of 2012 compared with the same quarter last year.

(-19.1%); metals, computers, electronics and optical products, machinery and equipment industries (-15.5%); textile products industry (-3.1%); and the reproduction of paper products, printing and storage data media (-3.1%).

On the other hand, the production of foodstuffs, beverages and tobacco products recorded an increase of 2.4%.

According to seasonally adjusted figures, the index of overall industrial production in the second quarter of 2012 was 1.7% lower than that in the first quarter of 2012.

The producer price index reflects the changes in local production prices, which measure the changes in the actual price charged by the manufacturer to its output, that is, the deduction or refund of any rebate, plus any additional charges, but the pportation cost and other incidental expenses are not included.

Producer prices in the second quarter of 2012 decreased compared with the same quarter last year, while metal, computer, electronics and optical products, machinery and equipment industry recorded a decrease (-3.6%).

On the other hand, the producer price of food, beverage and tobacco products increased the most (+4.1%), followed by the clothing industry (+3.1%).

(+0.9%); and the reproduction of paper products, printing and storage data media (+0.9%).