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FX.co ★ Hong Kong Q2 Industrial Output Expands 2.6%

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typeContent_19130:::2023-09-13T09:04:00

Hong Kong Q2 Industrial Output Expands 2.6%

Hong Kong's industrial production advanced in the second quarter, primarily driven by strong gains in the output of miscellaneous manufacturing industries and textiles and apparel, provisional data from the Census and Statistics Department showed on Wednesday.

The index of industrial production for manufacturing industries as a whole rose 2.6 percent annually in the second quarter, though slower than the 3.8 percent increase in the previous quarter.

On a quarterly basis, industrial production grew a seasonally adjusted 3.3 percent in the June quarter.

Production of miscellaneous manufacturing industries expanded by 4.8 percent, and that of textiles and wearing apparel registered a growth of 3.8 percent.

Data also showed that production for sewerage, waste management and remediation activities climbed 2.2 percent annually in the second quarter, after rising 0.4 percent in the previous three-month period.

Meanwhile, producer prices dropped 0.2 percent in the second quarter compared to last year, reversing a 0.9 percent increase in the previous quarter. The decline was attributed to lower prices for metal, computers, electronic and optical products, machinery and equipment.

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