Industrial production for manufacturing up 0.3% in Q2

Its producer price index also inched up 0.8% YoY.

The index of industrial production for manufacturing industries as a whole edged up by 0.3% YoY in the second quarter compared with a year earlier, extending a 1.4% YoY rise in the first quarter of 2019, according to the Census & Statistics Department (C&SD).

The corresponding producer price index also inched up by 0.8% YoY over the same period following a 0.7% YoY increase in the previous quarter.

Amongst subareas, the index of industrial production for sewerage, waste management and remediation activities increased by 0.4% YoY in Q2 following a 1.3% YoY rise in Q1. On the other hand, its corresponding producer price index dipped 2.9% YoY in the second quarter against a 1.2% YoY increase recorded during the first quarter of the year.

Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes, said C&SD. Price changes are measured by the producer price indices compiled from data on producer prices of selected industrial goods or services collected in the same survey.

Industry-wise, increases in output volume were recorded in the food, beverage, and tobacco industry as well as the textiles and wearing apparel industry, rising by 1.8% YoY and 1.3% YoY respectively.

On the other hand, decreases in output volume were recorded in the metal, computer, electronic and optical products,machinery and equipment industry as well as the paper products, printing and reproduction of recorded media industry with 2.1% YoY, 2.1% YoY and 1.5% YoY falls in Q2, respectively.

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 0.7% QoQ in Q2 compared to the previous quarter.

Photo courtesy of Michal Osmenda (Wikimedia Commons).