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FX.co ★ Hong Kong Industrial Output Contracts In Q3

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typeContent_19130:::2022-12-13T12:39:00

Hong Kong Industrial Output Contracts In Q3

Hong Kong's industrial production contracted in the third quarter, primarily caused by a slump in textile and apparel output, provisional data from the Census and Statistics Department showed on Tuesday.

The index of industrial production for manufacturing industries as a whole declined 0.6 percent yearly in the third quarter, in contrast to a 2.7 percent gain in the second quarter.

On a quarterly basis, industrial production fell a seasonally adjusted 2.6 percent in the third quarter.

Textiles and wearing apparel production logged a fall of 4.6 percent, and that of food, beverages and tobacco slid 1.0 percent.

Data also showed that production for sewerage, waste management and remediation activities declined 3.0 percent annually in the third quarter, after rising 0.6 percent in the previous three-month period.

Meanwhile, producer prices increased at a slower rate of 0.4 percent in the September quarter compared to last year, following a 0.8 percent increase in the June quarter.

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