Hong Kong experienced a decline in industrial production during the third quarter, according to provisional figures released by the Census and Statistics Department on Thursday. The comprehensive index of industrial production for the manufacturing sector saw a marginal annual decrease of 0.1 percent in the third quarter. This reflects a reversal from the 0.7 percent growth reported in the second quarter.
Quarter-on-quarter, industrial production held steady during the September period.
Specifically, production in the food, beverages, and tobacco industries dropped by 2.7 percent compared to the previous year. Similarly, manufacturing in the paper products, printing, and reproduction of recorded media sector decreased by 4.6 percent. Conversely, the textiles and wearing apparel industry experienced a robust growth of 5.8 percent.
In terms of pricing trends, producer prices escalated at a slightly quicker pace, with a 3.2 percent rise in the September quarter over the previous year, following a 3.1 percent increase noted in the June quarter.
