The Hong Kong Government Statistician published the preliminary statistical figures for the Industrial Production Index and the Industrial Producer Price Index for the third quarter of 2024 today.
According to the Zhichun Finance app, the Hong Kong Government Statistician published the preliminary statistical figures for the Industrial Production Index and the Industrial Producer Price Index for the third quarter of 2024 today. The overall manufacturing Industrial Production Index for the third quarter of 2024 compared to the same quarter last year slightly fell by 0.1%, while a year-on-year increase of 0.7% was recorded in the second quarter of 2024. The corresponding Producer Price Index rose by 3.2% compared to the same quarter last year, following a year-on-year increase of 3.1% in the second quarter of 2024.
The Industrial Production Index for Sewerage, Waste Management and Pollution Prevention activities rose by 0.7% in the third quarter of 2024 compared to the same quarter last year, following a year-on-year increase of 1.5% recorded in the second quarter of 2024. The corresponding Producer Price Index rose by 1.3% compared to the same quarter last year, following a year-on-year increase of 1.0% in the second quarter of 2024.
In terms of major industries in manufacturing, the industries that saw a decline in production volume in the third quarter of 2024 compared to the same quarter last year included paper products, printing and reproducing recorded media (-4.6%), as well as food, beverage and Tobacco Products industries (-2.7%). On the other hand, the industries that recorded an increase mainly included textiles and garments (+5.8%), as well as Metal, computers, electronic and optical products, Machinery and equipment industries (+3.5%).
According to seasonally adjusted figures, the overall Manufacturing Industrial Production Index for the third quarter of 2024 remained roughly unchanged compared to the second quarter of 2024.
The industries that recorded an increase in the Producer Price Index in the third quarter of 2024 compared to the same quarter last year mainly included Metal, computers, electronic and optical products, Machinery and equipment industries (+6.1%), paper products, printing and reproducing recorded media (+1.9%), and food, beverage and Tobacco Products industries (+1.8%). On the other hand, the industries that recorded a decline included textiles and garments (-0.3%).