In the final quarter, Hong Kong saw a surge in its industrial production, primarily due to an increase in food product output, according to the preliminary data from the Census and Statistics Department.
The manufacturing industries' overall industrial production index rose by 4.1% annually in the last quarter. This was a slight decrease from the revised 4.3% increase in the third quarter.
However, quarter by quarter, the industrial production experienced a seasonal adjustment drop of 0.5%
Among the various industries, food, beverage, and tobacco experienced the highest output volume increase by 5.5%. The metal, computer, electronic, and optical products, machinery, and equipment sectors trailed with a growth of 2.5%.
The data also indicated that the producer price index experienced a 2.7% increase in comparison to the same period in the previous year.
Over the entirety of 2023, the total industrial production grew by 3.7% in contrast with the output in 2022.
