Hong Kong's industrial production decreased at a faster pace in the second quarter, preliminary data released by the Census and Statistics Department showed Thursday.
Industrial production fell 2.9 percent on an annual basis in the second quarter, faster than the 1.6 percent decline recorded in the first quarter.
Contributing to the overall contraction, output of metal, computer, electronic and optical products, machinery and equipment fell 15.5 percent year-on-year, while production of wearing apparel declined 19.1 percent. Output of textiles was lower by 3.1 percent compared to last year.
Meanwhile, food, beverages and tobacco production rose 2.4 percent annually during the three-month period, data showed.
Sequentially, overall industrial production decreased a seasonally adjusted 1.7 percent in the second quarter.
The agency said producer prices in Hong Kong's industrial sector decreased 0.7 percent year-on-year in the second quarter, reversing first quarter's 3.6 percent growth. The decline mainly reflected a 3.6 percent fall in prices of metal, computer, electronic and optical products, machinery and equipment.
by RTT Staff Writer
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