Hong Kong's Manufacturing Output Dips in Q3; Producer Prices Rise

MT Newswires Live2024-12-13

Hong Kong's industrial production for the manufacturing sector decreased by 0.1% year-on-year in the third quarter of 2024, reversing a 0.7% increase in the second quarter, according to provisional data from the Census and Statistics Department (C&SD) released on Thursday.

The producer price index (PPI) for manufacturing industries rose by 3.2% in Q3, slightly up from 3.1% in Q2.

The sewerage, waste management, and remediation activities sector saw a 0.7% rise in output, while its PPI increased by 1.3%, up from 1.0% in the previous quarter.

Declines in industrial output were seen in the paper products, printing, and reproduction of the recorded media sector, which fell 4.6%, and the food, beverages, and tobacco industries, which dropped 2.7%.

In contrast, output in textiles and wearing apparel rose by 5.8%, and the metal, computer, electronic, and optical products, machinery, and equipment sector grew by 3.5%.

On a seasonally adjusted basis, overall industrial production for manufacturing industries remained flat compared to Q2 2024.

The PPI saw increases in key industries, including metal products and machinery, which rose 6.1%, paper products, which rose 1.9%, and food and beverages, which rose 1.8%.

The textiles and apparel sector saw a slight decrease of 0.3%.

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